Tether Successfully Clears SOC 2 Audit, Reinforcing Commitment to User Security
Summary:
Tether, a leading stablecoin, has successfully passed the System Organization Control (SOC) 2 Audit, the highest standard for security compliance. The firm reassures its users about the safety of their data and assets, as it commits to maintaining top-notch security standards. To ensure consistency in practices, Tether will undertake SOC 2 inspections annually. The company also aims to achieve SOC 2 Type 2 Certificate by 2025, evaluating its internal control effectiveness over 12 months. Further information will be provided as the news develops.
In a significant achievement for Tether, the company has successfully concluded the System Organization Control (SOC) 2 Audit. Developed by the American Institute of Certified Accountants (AICPA), this audit represents the pinnacle of security conformity for an institution. Approaching security commitments seriously, Tether aims to provide a secure experience for its users, as espoused by CEO Paolo Ardoino in his recent announcement on April 1. His statement endorsed the importance of this compliance measure for customers, assuring them that their data and assets are handled in an environment that conforms with the highest possible standards for data protection and information security. He asserted that this independent verification of security controls marks a significant stride for Tether, reinforcing its ambition to be considered one of the most trusted and compliant stablecoins worldwide. To ensure maintaining its standards, Tether has pledged to conduct annual SOC 2 inspections. The company aspires to procure the SOC 2 Type 2 Certificate by the conclusion of 2025, a certification that evaluates Tether's internal control efficiency over a one-year duration. This piece of news is still progressing, and additional information will be updated as and when it gets available.
Published At
4/1/2024 3:55:48 PM
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