BTC dips down by 1%🚫 to +69k$ today🚧 the market goes red, with some coins like Ethfi falling by 15%... yet, on this same day Tether has hit another milestone here's all you need to know :
Tether recently achieved a SOC 2 audit, which is considered a significant step towards strong security compliance. However, it's important to understand the distinction between the two SOC 2 audit types:
SOC 2 Type 1: This is the initial report, which assesses the design of Tether's security controls at a specific point in time (April 1, 2024 in this case). This is what Tether has achieved.
SOC 2 Type 2: This is a more in-depth audit that evaluates the operating effectiveness of Tether's controls over a period of time. Tether has expressed their intention to pursue a SOC 2 Type 2 audit by the end of 2025.
Here's a quick summary of what you can find in news articles:
Tether considers SOC 2 a "gold standard" in security compliance developed by the American Institute of Certified Public Accountants (AICPA).
The audit focuses on five key areas: security, availability, processing integrity, confidentiality, and privacy.
This achievement is part of Tether's efforts to increase transparency, build trust with users, and engage with regulators.
We give verified information ... follow to move up from just a regular uninformed trader controlled by others.
