Binance announces completion of SOC 2 security compliance audit

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."