Crypto Exchange Binance Conducts SOC 2 Type II Audit: Details

The new accomplishment represents the latest milestone in the organization’s unwavering commitment to enhance security standards in the blockchain services industry. Besides that, the platform scored new ISO certificates for its operations in four important jurisdictions.

Binance (BNB) scores System and Organization Controls (SOC) audit

Per its official announcement, Binance (BNB), the world’s largest cryptocurrency exchange ecosystem, concludes the procedure of the System and Organization Controls (SOC) 2 Type II compliance audit for its global platform and technology services. The stringent security audit was completed successfully, the statement says.

Conducted by highly reputed third-party security vendor A-LIGN, the SOC 2® Type II audit was completed by Binance following a comprehensive multimonth assessment of the organization’s controls and practices in two areas: systems protection and data security.

Such audits are of paramount importance to Binance (BNB); as it is a custodian of users’ assets and data, Binance (BNB) needs strongest security protocols to protect the resources of its customers.

Jimmy Su, Chief Security Officer at Binance, highlights that the recent audit is yet another impressive milestone in its cybersecurity roadmap, but the processes will be enhanced again and again:

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 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 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.

As covered by U.Today previously, Binance (BNB) scored the industry-first cryptocurrency tri-party arrangement to advance the level of services for entrepreneurs and B2B clients.

Binance (BNB) obtains new ISO certificates

In 2023, Binance (BNB) expanded its strategy of security certification. Namely, it obtained ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in four jurisdictions: 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.

These accreditations were obtained thanks to the efforts of the Security Governance unit at Binance and changed the narrative in the security segment of the global CEX scene.