Tether completes security rating audit
Tether announced on its official website that it has completed the security compliance gold standard "SOC 2 Type 1" established by the American Institute of Certified Public Accountants (AICPA).
This audit is not directly related to Tether’s reserve financial review, which SOC 2 examines based on five key criteria:
Security: Implement firewalls, intrusion detection, and authentication measures to protect customer data.
Availability: Focus on maintaining a reliable and active network and solving problems efficiently.
Processing Integrity: Focuses on whether the system achieves its stated goals and provides accurate data at the right time and at the right price.
Confidentiality: Limit the access and disclosure of data to only authorized individuals or organizations, and focus on strengthening the encrypted transmission of data.
Privacy: Ensure responsible collection, use, retention and disclosure of personal information.
Tether CEO: Becoming the most compliant stablecoin.
Tether CEO Paolo Ardoino said:
This compliance measure ensures that our users can manage their assets and data in an environment with the highest standards of information security. This third-party independent verification is critical to Tether and demonstrates our commitment to becoming the most trustworthy and compliant stablecoin in the world.
Tether has also committed to receiving SOC 2 inspections annually to ensure that its operations and security practices are always operating according to the highest standards, and plans to further obtain a SOC 2 Type 2 certificate by next year.
A SOC 2 Type 2 certificate certifies that Tether meets standards for security, availability, confidentiality, privacy, and processing integrity, and that it has been operating effectively for 12 months.
This article Tether completes the SOC gold standard audit and claims to be the most compliant stablecoin first appeared on Chain News ABMedia.