Quantcast
CRYPTO NEWS AROUND THE GLOBE
Visa's Data Partner Allium Labs Raises $16.5M as Their New Findings Show Stablecoin Activity is Back Up
OKX Europe head sees more crypto mergers as MiCA rules roll out
Ethereum (ETH) Remains Inflationary as Circulating Supply Spikes
Microsoft's giant outage hits airports, banks and major companies
Solana attracts giants like Paypal and Stripe
Payment giant Stripe now offers cryptocurrency purchases by credit card in Europe
Vitalik Buterin, as Other Crypto Leaders Line Up Behind Trump, Argues Against Picking Candidates Just Because They Like Crypto
German government's bitcoin selloff nets $2.9 billion as film piracy case marches on
Singapore court ruling fans suspicions the $125m Multichain hack was an inside job
Will Bitcoin 2024 Conference Be a Game Changer for Crypto?
Plaintiffs File New, Slimmed Down Complaint in Class Action Lawsuit Against Tether
Forbes releases the best crypto top 10 of the year 2024, +90 at 1300%
Why JPMorgan sees a Bitcoin rebound in August
Europe Conquering the Crypto Market: $100 Trillion at Stake!
Binance CEO on 200 million user milestone: 'Crypto has become too big to ignore and is not going away'
SEC Relaxes Crypto Reporting Rules for Banks and Brokerages
Germany Almost Done Selling Bitcoin, Holding Less Than 5K Tokens After Latest Moves
US lawmakers take action in Congress to free Binance executive in Nigeria
Ethereum Jumps 11% in 4 Days: US CPI, Imminent ETF Launch Could Accelerate Rise
Crypto Exchange BitMEX Pleads Guilty to Violating the Bank Secrecy Act From 2015 to 2020
Cyprus Issues Alert to Accounting Professionals to Combat Crypto Terror Financing
French giant Vivendi now authenticates and protects its content via blockchain
Crypto: SEC on the Verge of Approving Ethereum ETFs
Italy to change crypto regulations to comply with MiCA
France’s shock election wins will upend crypto tax cuts, industry fears
Digital Asset Investment Products Gain $441M Amid Mt. Gox, German Sell-Offs: CoinShares
Metis co-founder's ZKM plans to launch Bitcoin Layer 2 GOAT Network
Prediction Markets and Polls Both Got the French Election Wrong
The duel between Gensler and Coinbase continues
Binance CEO: Company co-founder 'took full responsibility for past mistakes'
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