Binance has obtained the ISO 27001 and ISO 27701 certifications for information security governance and privacy information management.
A-LIGN, a global security and compliance firm, granted Binance these certificates after conducting a thorough and comprehensive evaluation of the exchange’s operations.
Binance receives certifications for worldwide security and privacy
Despite facing a securities violation case from the U.S. Securities and Exchange Commission (SEC), Binance, the world’s largest bitcoin (BTC) trading platform, has successfully obtained two certifications.
The certifications in question are the ISO 27001 and ISO 27701, which focus on information security governance and privacy information management.
A-LIGN, a global external auditor and security/compliance organization with a tech-focused approach, awarded these certifications to the exchange. The exchange stated that the certifications were granted after a comprehensive evaluation of the security and privacy aspects of its operations.
Notably, these certifications span multiple countries, including France, Bahrain, and the United Arab Emirates (UAE). Jimmy Su, Binance’s chief security officer, expressed his satisfaction with this achievement.
He emphasized the importance of information security governance as a crucial element for contemporary organizations. However, this award demonstrates that the exchange complies with global security and privacy standards. Jimmy Su, the chief security officer for Binance, said:
“Users and clients on our platform can be assured that their assets and information are protected in line with the latest global standards. We have a team of experienced security professionals that are Binance improving, adapting, and innovating to ensure that Binance remains at the forefront of safeguarding the blockchain ecosystem.”
Following the recent SEC enforcement action, Binance experienced a significant impact with over $70 million in net withdrawals within a 24-hour period.
This event, along with market-wide turmoil, has made Binance, a subject of FUD (fear, uncertainty, and doubt) in recent months.
Despite the substantial outflows amounting to over $700 million, on-chain data from CryptoQuant reveals that these withdrawals are relatively insignificant when compared to Binance’s reserve funds.
According to CoinMarketCap, the current global crypto market capitalization stands at $1.09 trillion. This represents a decline of 3.84% in the last 24 hours.
