Cryptocurrency exchange and infrastructure provider Binance has completed a comprehensive compliance audit, as part of its commitment to improving security standards within the crypto industry.
Binance has successfully undergone a System and Organisation Controls (SOC) 2 Type II compliance audit – conducted by independent third-party assessor A-LIGN – for its global platform and technology services. The audit affirms that an organisation has well-designed controls, has implemented them effectively, and operates them efficiently.
According to Binance, its attainment of industry-standard certifications demonstrates its commitment to fostering trust, confidence and reliability in the blockchain ecosystem.
It has also received the ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in France, United Arab Emirates, Bahrain and Turkey. It also completed the less stringent SOC 2 Type I audit, a precursor to the audit announced today, earlier in March.
“Although the crypto industry has grown and matured over the past years, there remains a gap in the understanding and perception,” said Jimmy Su, chief security officer at Binance. “Collective efforts from industry players are required to affect change. Binance, as the market leader, recognises that it needs to be at the forefront of such efforts.
“That is why we’ve dedicated significant resources and effort into demonstrating that crypto platforms are able to meet, and even exceed, the strict standards found in traditional regulated industries. The SOC 2 Type II audit is the latest example, but it won’t be our last.”
Annual surveillance audits will also be done by the company to ensure continued conformity with the standards and requirements set out.
