Industries

Audit and advisory for Crypto Assets

Q: How can companies in Crypto Assets get a proposal?

Simply share your company and needs via the proposal form; our team, which knows your industry, will send our scope, timeline and fee proposal in writing. Phone: +90 212 951 02 47.

Reserve audits, CMB regulations, MASAK compliance and information systems security.

Get a proposal +90 212 951 02 47

Financial reporting and audit in Crypto Assets companies

Under CMB regulations, crypto asset service providers have become subject to wide-ranging obligations such as operating licences, capital adequacy, protection of client assets and information systems security. Independently verifying that client assets are genuinely and fully safeguarded is the foundation of trust in the industry.

ARSEN serves crypto asset platforms in reserve audits, financial statement audits, MASAK compliance programmes and IT controls. Our approach of matching on-chain data with accounting records enables platforms to give transparent information to both the regulator and their users.

Audit focus areas in Crypto Assets companies

Protection of client assets

The core expectation is that client balances are matched one-for-one by assets in the platform's wallets and segregated from the company's own assets.

Wallet and key management

Management of hot and cold wallets, safekeeping of private keys and authorisation controls are critical from both a security and an audit perspective.

Money laundering

Know-your-customer, transaction monitoring and identifying transactions with high-risk addresses are at the heart of MASAK obligations.

Financial reporting

The classification and measurement of crypto assets in the financial statements must be assessed according to the platform's business model and the purpose for which the assets are held.

Key standards and concepts in this industry

Crypto asset service providerPlatforms and custodians providing services such as buying, selling, safekeeping and transferring crypto assets, subject to CMB regulation.Reserve auditAn independent auditor verifying that a crypto asset service provider genuinely and fully holds the assets belonging to its clients.MASAKThe Financial Crimes Investigation Board, affiliated to the Ministry of Treasury and Finance, which develops policy and supervises obliged parties in combating money laundering and terrorist financing.Know your customer (KYC)The processes by which obliged parties identify and verify their customers, determine the beneficial owner and understand the purpose of the business relationship.Suspicious transaction reportA report made to MASAK by obliged parties when there is suspicion, or reasonable grounds for suspicion, that a transaction is related to money laundering or terrorist financing.IT general controlsControls over access management, change management, IT operations and system development that ensure information systems operate reliably.Assurance engagementAn engagement providing assurance, against specified criteria, on a subject matter other than an audit or review of historical financial information.

Our services for Crypto Assets

IT Risk Management

Crypto Asset Platform Audit and Assurance

Asset audits, MASAK compliance assurance and technology infrastructure assurance for crypto asset service providers.

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Proof of Reserves Audit

The mandatory quarterly reserve audit and reporting for crypto asset service providers under the CMB principle decision.

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MASAK Compliance Programme

Setting up and assessing a compliance programme for the prevention of money laundering and terrorist financing.

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IT Advisory

Advisory from strategy to implementation in cybersecurity, data analytics, automation and IT transformation.

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Independent Audit

An independent auditor's opinion, to international standards, on the financial statements of companies subject to the Turkish Commercial Code, the CMB, the BRSA and the EMRA.

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Proposal request

Get a tailored proposal for the Crypto Assets industry

Share the scope in a few lines and we will send you our team, timeline and fee proposal in writing. Free of charge and non-binding.

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or call: +90 212 951 02 47

Frequently asked questions about Crypto Assets

How is a reserve audit carried out?

A list of client balances is obtained as at the chosen date, ownership of the wallets controlled by the platform is verified and on-chain balances are compared with client liabilities. The result is presented in a report showing the extent to which reserves cover client assets. For details, see our reserve audit service.

Are crypto asset platforms subject to MASAK obligations?

Yes. Crypto asset service providers are obliged parties under anti-money laundering and counter-terrorist financing legislation; they have obligations such as know-your-customer, suspicious transaction reporting and a compliance programme.

How often should a reserve audit be performed?

Frequency is determined by regulatory requirements and the platform's commitments to its users. Periodic checks on dates not announced in advance increase reliability.

How can companies in Crypto Assets get a proposal?

Share your company and needs via the proposal form and our team, which knows your industry, will send our scope, timeline and fee proposal in writing. Phone: +90 212 951 02 47.

Last updated: October 22, 2026

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