Crypto.com Enhances Data Privacy by Passing Key Certification

The U.S. crypto exchange Crypto.com reached an important data privacy milestone after obtaining the SOC 2 Type II certification. The audit was carried out by the recognized audit and consulting firm Deloitte, which ensured Crypto.com’s internal rules are established, implemented, and used in line with standard security regulations.

Renowned Consulting Firm Deloitte Conducts the Audit

Crypto.com announced it has completed the Service Organization Control (SOC) 2 Type II Compliance audit, giving an important boost to the crypto exchange’s data privacy. The audit was conducted by the renowned audit and consulting firm Deloitte, which also helped Crypto.com obtain its SOC 2 Type I certification last year.

The SOC Type II certification ensures that its recipients provide high-level customer data privacy. It also ensures that Crypto.com’s “information security practices, policies, procedures, and operations adhere to AICPA Trust Services Criteria in Security, Confidentiality, Processing Integrity, and Privacy,” the crypto exchange added.

“Achieving SOC 2 Type II certification is yet another step in reinforcing Crypto.com’s continuous commitment to security and data privacy by design.”

– Jason Lau, Chief Information Security Officer of Crypto.com

The firm’s CEO Kris Marszalek said the SOC Type II Certification represents the exchange’s testament to the commitment to security, data privacy, and regulatory compliance. The company plans to continue making significant investments to further develop its platform while providing the highest level of privacy and security in the crypto space, added Marszalek.

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Crypto.com’s Rapid Expansion Continues Amid a Challenging Year for Crypto

Based in Singapore, Crypto.com remains one of the fastest-growing crypto exchanges in the world. The company has obtained several licenses around the world in recent months, including in Singapore, the U.K., Canada, Dubai, Greece, and others.

Earlier this month, the crypto exchange obtained a regulatory license in South Korea after acquiring several local firms. Crypto.com said it has bought local payment service firm PnLink Co. and virtual-asset exchange OK-BIT. No financial details were disclosed.

Crypto.com’s data privacy certification and rapid expansion come amid a very challenging year for the crypto industry. The space has been plagued by raging inflation, multi-million dollar hacks, and bankruptcies.

The crypto exchange’s acquirement of the SOC 2 Type II certification comes at a critical period as an increasing number of crypto investors are concerned about their funds’ safety and data privacy. Earlier this year, a research report showed that the number of attacks on DeFi protocols rose by 1330% in 2021.

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