Quantcast
CRYPTO NEWS AROUND THE GLOBE
PayPal's stablecoin continues its rise with a market cap of more than $290 million
Binance to list crypto Manta Network (MANTA)
Crypto Start-ups in Europe: Opportunities and Challenge
Binance BNB: Between optimism and caution for 2024
The Last Man Standing in Crypto
Weekly Preview: Coinbase v. SEC, big token unlocks, and more
Binance Labs leads SkyArk Chronicles funding round
Crypto: Is the market at half mast again?
The impact of government regulation on cryptocurrencies
Bitcoin on X? Elon Musk opens the door to this possibility
Celebrating 25 years of the euro: a retrospective and future outlook
Bitcoin Documentary Wins Award at Cannes
The AMF and the ACPR warn the public against the activities of several players who offer investments in Forex and derivative products on crypto-assets in France without being authorized to do so
BitPay customers can now purchase goods and pay bills in BNB, LINK and UNI
A Hack of the S.E.C.’s Social Media Account Caused a Bitcoin Frenzy, Briefly
Cryptocurrencies and NFTs in France: CryptOx'R 2024 brings together Web3
Bitcoin swings sharply after false claim that SEC approved ETFs
New proof of reserves for Binance: the exchange finally cleared?
Ternoa gets into DeFi: smart contracts arrive on the betanet
Bitcoin: More than 6,000 merchants accept BTC in their store
Coinbase plans acquisition to expand derivatives offering in EU
Coin Center executive director: New IRS crypto reporting rule 'is not only unconstitutional but also virtually impossible to comply with'
Healthcare blockchain project Galeon wins three awards and soars at CES Las Vegas 2024
Binance US Branch Hires New Compliance Officer
Visa unveils Web3 customer loyalty solution
Digital Euro: the European Central Bank is active around its MNBC
BTC: Cboe exchange approves listing of Fidelity Investments Bitcoin Spot ETF
European Central Bank lays out €1.2bn plan for development of digital euro
Crypto Council for Innovation survey finds crypto offers alternative to underbanked communities
Prosecutors won't pursue second trial against FTX founder
All Crypto News Around The Globe

Binance announces completion of SOC 2 security compliance audit

Webp teng5
Binance CEO Richard Teng | Binance, CC BY 4.0, via Wikimedia Commons

Binance, the world's largest cryptocurrency exchange, recently announced the successful completion of a System and Organization Controls (SOC) 2 compliance audit. The audit was conducted over several months by A-LIGN, a third-party assessor.

According to a blog post by Binance, the completion of the SOC 2 Type II compliance audit illustrates its ongoing commitment to maintaining high security standards as an industry leader. During the audit, A-LIGN confirmed that Binance's systems protection and data security practices are "well-designed and appropriately implemented."

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Binance's Chief Security Officer, Jimmy Su, stated, "Although the crypto industry has grown and matured over the past years, there remains a gap in understanding and perception. Collective efforts from industry players are required to affect change and Binance, as the market leader, recognizes that it needs to be at the forefront of such efforts. That is why we’ve dedicated significant resources and effort to demonstrating that crypto platforms can meet, and even shift, the strict standards that apply in traditional regulated industries. The SOC 2 Type II audit is the latest example, but it won’t be our last."

In its post, Binance mentioned that obtaining "industry-standard accreditations" forms part of its strategy to boost trust, confidence, and reliability in the digital asset industry. Alongside the SOC 2 audit, Binance completed a SOC 1 audit earlier this year. It also received ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in France, Turkey, Bahrain, and UAE.

During a Dec. 1 X Space event, Binance CEO Richard Teng emphasized his top priorities as CEO: protecting users and promoting regulatory clarity for the entire industry. He stressed that all industry participants should be playing "by the same rules."

When Binance obtained ISO 27001 and ISO 27701 certifications for France, Bahrain, and UAE in June, Su stated, "Users on our platform can be assured that their assets and information are protected in line with the latest global standards."

More News

UK’s stringent crypto regulations spark debate as exchanges struggle to gain FCA approval

The UK cryptocurrency market continues to pose challenges for exchanges as they adapt to stricter regulatory requirements. Cryptocurrency exchange Bitget recently relaunched its UK platform after halting services in May 2024 to comply with the UK Financial Conduct Authority’s (FCA) Financial Promotions regime. This relaunch reflects Bitget’s efforts to align with the FCA’s evolving standards, aimed at enhancing consumer protection in the digital asset space.

Nov 24, 2024

Italy backtracks on crypto tax hike amid investor pushback

The Italian government recently announced a plan to increase the capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%. This proposal, part of broader fiscal measures to support election pledges and reduce Italy’s fiscal deficit, has raised concerns among cryptocurrency investors and industry leaders.

Nov 24, 2024

European banking authority issues new guidelines for crypto providers to comply with restrictive measures

On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.

Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

Crypto Comments
Loading...

No comments available.

Trending
1

UK’s stringent crypto regulations spark debate as exchanges struggle to gain FCA approval

2

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

3

UK’s digital assets bill brings much-needed clarity to digital asset regulation

4

Italy backtracks on crypto tax hike amid investor pushback

5

New crypto regulations aim to keep startups from 'sailing away' to the U.S.