Binance Successfully Completes SOC 2 Type II Compliance Audit
Binance has completed a comprehensive SOC 2 Type II compliance audit, aiming to further enhance cryptocurrency security.
The crypto exchange Binance announced in a blog post that it had successfully undergone the System and Organization Controls (SOC) 2 Type II compliance audit. This audit, conducted by the third-party validator A-LIGN, involved a detailed evaluation of Binance’s controls and practices in two key areas, systems protection and data security.
The exchange aims to maintain robust security protocols across its platform and continuously upgrades its systems. Key measures include stringent access management, advanced encryption techniques, and a resilient incident response protocol.
“Although the crypto industry has grown and matured over the past years, there remains a gap in the understanding and perception. Collective efforts from industry players are required to affect change,” said Binance Chief Security Officer Jimmy Su.
“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,” said Su. “The SOC 2 Type II audit is the latest example.”
According to Binance’s new CEO Richard Teng, the audit reaffirms “well-designed and appropriately implemented controls.”
#Binance has passed a comprehensive SOC 2 Type II compliance audit, affirming our dedication to strict security standards.
A trusted independent auditor validated our security measures, affirming well-designed and appropriately implemented 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
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