Binance has accomplished a complete SOC 2 Sort II compliance audit, aiming to additional improve cryptocurrency safety.
The crypto trade Binance introduced in a blog post that it had efficiently undergone the System and Group Controls (SOC) 2 Sort II compliance audit. This audit, carried out by the third-party validator A-LIGN, concerned an in depth analysis of Binance’s controls and practices in two key areas, techniques safety and information safety.
The trade goals to take care of strong safety protocols throughout its platform and repeatedly upgrades its techniques. Key measures embody stringent entry administration, superior encryption strategies, and a resilient incident response protocol.
Binance Reiterates Its Dedication to Safety
“Though the crypto trade has grown and matured over the previous years, there stays a niche within the understanding and notion. Collective efforts from trade gamers are required to have an effect on change,” stated Binance Chief Safety Officer Jimmy Su.
“That’s the reason we’ve devoted vital assets and energy to demonstrating that crypto platforms can meet, and even shift, the strict requirements that apply in conventional regulated industries,” stated Su. “The SOC 2 Sort II audit is the most recent instance.”
In response to Binance’s new CEO Richard Teng, the audit reaffirms “well-designed and appropriately applied controls.”
#Binance has handed a complete SOC 2 Sort II compliance audit, affirming our dedication to strict safety requirements.
A trusted unbiased auditor validated our safety measures, affirming well-designed and appropriately applied controls.https://t.co/5anLPBkgsJ
— Richard Teng (@_RichardTeng) December 19, 2023
Teng was named the new CEO of Binance after Changpeng Zhao (CZ) stepped down. He expressed the confidence in Binance’s future and stated the trade will proceed to be the world’s largest crypto trade by quantity.
“The basics of our enterprise are VERY robust,” stated Teng. “Our capital construction is debt-free, bills are modest, and, regardless of the low charges we cost our customers, we have now strong revenues and earnings.”
Richard Teng on Taipei Blockchain Week
Just lately, Teng joined Ethereum co-founder Vitalik Buterin to kick off Taipei Blockchain Week, the place he stated he felt “humbled and honoured” to be main the trade.
“Conventional media nonetheless affiliate crypto and blockchain with scams and illicit funds – however when you take a look at information issued by the US monetary crime workplace Chainalysis and lots of different analysis items — the quantity of illicit funds going into crypto is 0.02%,” stated Teng.
This newest audit not solely validated Binance’s safety protocols but in addition underscored its dedication to aupporting a safe atmosphere for its customers’ digital property and information.
