The world’s largest crypto exchange, Binance, has been expanding and exploring. The firm has ventured into several regions across the globe. However, getting a green signal from the regulators is certainly pertinent. Binance has gone a step further and received security and privacy-related certifications.
In a recent announcement on Twitter, Binance’s CEO, CZ, revealed that the exchange has been awarded ISO 27001 and ISO 27701 in France, Bahrain, and the UAE. Binance noted that these certifications reflect their commitment to setting strong security and privacy measures for their users. ISO 27001 is an international standard for information security management systems. ISO 27701 further focuses specifically on privacy information management systems.
#Binance has obtained the ISO 27001 (information security) and the ISO 27701 (data privacy) certifications in France🇫🇷, UAE🇦🇪, and Bahrain🇧🇭.— CZ 🔶 Binance (@cz_binance) June 4, 2023
Binance earned these through the evaluation carried out by an external auditor named A-LIGN. The auditor thoroughly assessed the security and privacy aspects of the exchange’s operations to determine its eligibility. This implied that Binance met the strict requirements set forth by the auditor. This is with regard to security and privacy domains.
Furthermore, the importance of a third-party auditor has been noted. The involvement of an external auditor adds credibility to the certification process. As it defined the firm’s commitment to aid robust security and privacy standards. It should be noted that the exchange will undergo annual surveillance audits.
Is Binance bolstering its presence outside the U.S.?
Due to the regulatory uncertainty around crypto in the United States, several firms have chosen to move out or limit their operations in the country. While Binance does have a dedicated arm, Binance.US, catering specifically to U.S. customers, the exchange appears to be directing its focus toward other regions across the globe. Elaborating on the same, Jimmy Su, Chief Security Officer at Binance further said,
“Users and clients on our firm can be assured that their assets and information are protected in line with the latest global standards. We have a team of highly experienced security professionals that are continuously improving, adapting, and innovating to ensure that Binance remains at the forefront of safeguarding the blockchain ecosystem.”