Quantcast
CRYPTO NEWS AROUND THE GLOBE
Mt. Gox to Begin Repayments in July; BTC Slides Under $61K
How this Bitcoin miner plans to eke out a profit during a rocky time for the industry
Binance Announces Tether Integration on Toncoin Network
Ethereum finally ready for its rise? The holders are holding on!
El Salvador’s president wants to use Bitcoin for national projects. Here are six ways how
US Lawmakers Visit Detained Binance Executive in Nigeria, Point to Health Concerns
Discover this pro-Bitcoin French woman who is running for the 2024 legislative elections
Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment
SEC closed the book on its Ethereum 2.0 investigation, but legal questions remain
SEC Drops Investigation into Ethereum (ETH), Consensys Says
Crypto top & flop: finally a rebound and what a rebound for the market!
Nigerian court dismisses escaped Binance exec’s human rights suit
A Wave of Large-Scale Liquidations is Sweeping Through the Crypto Market
El Salvador launches its private Bitcoin bank and takes on the banking system
Coinshares Rebrands Its Nordic Crypto ETP
Tether Debuts New 'Synthetic' Dollar Backed by Tokenized Gold in Tokenization Push
Proof of humanity: how Humanity Protocol gives a human face to Web3
President Bukele proposes Bitcoin bank for El Salvador two weeks after starting second term
The State of Crypto: The Fortune 500 Moving Onchain
Nigeria drops tax charges against ailing Binance exec as spouse calls for end to ‘nightmare’
Tesla (TSLA): shareholders validate Elon Musk's $56 billion compensation plan
Gary Gensler Predicts Ethereum ETF Approval by Summer's End
More Central Banks Are Exploring a CBDC, BIS Survey Finds
Ether Sees Significant Long-Term Holder Accumulation Amidst 2% Price Dip
MoonPay and PayPal’s Partnership Expands to EU and UK
Can Solana bounce back thanks to the CPI and the Fed after a 17% correction?
Singapore money launderer gets 17 months in $2.2bn case involving illicit crypto
The EU is targeting crypto privacy, Monero facing a significant challenge.
Brazil’s Largest Bank Expands Bitcoin and Ether Trading to All Customers
Wife of Binance exec ‘expected a lot more’ from US as husband languishes in Nigerian prison
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

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

2

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

3

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

4

OpenAI chooses Paris as its new home base

5

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