đ„đ„đ„ #tether achieves #soc 2 security compliance, sets annual audit goal
Tether, the provider of the #USDT #stablecoin , has successfully completed the SOC2 audit, showcasing its robust measures to safeguard customer data.
The SOC2 Audit Type 1 evaluates a company's capability to manage customer data across five key trust service principles: security, availability, processing integrity, confidentiality, and privacy.
Through this audit, Tether has demonstrated its ability to maintain a secure network, promptly address issues, ensure accurate and timely data processing, restrict access to authorized personnel, and responsibly handle personal information.
The completion of the SOC2 Type 1 Audit underscores Tether's commitment to stringent security measures and regulatory compliance.
Despite recent regulatory scrutiny, including OKX's delisting of USDT trading pairs in the EU and criticism from Coinbase and Circle executives, Tether has been steadfast in its compliance efforts. Last month, the network blocked $1.4 million USDT associated with tech scams in the United States.
Achieving SOC2 compliance affirms Tether's effective IT controls for safeguarding systems and data, with a commitment to undergo this audit annually.
Source - crypto.newsÂ