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Cryptocurrency exchange Binance announced that it has been officially recognized by the International Organization for Standardization as an information security management system.
The accreditation, ISO/IEC 27001, is universally recognized as a benchmark for good security practice. It also supports compliance with European Union legislation, including data protection law, EU GDPR, and NIS cybersecurity regulations.
#Binance has received ISO27001 accreditation, certified by the DNV & UKAS, two world-renowned international accreditation bodies.
— Binance (@binance) September 24, 2019
We are proud to be among the first global crypto-asset platforms to receive ISO27001 accreditation, & the first certified by the DNV & UKAS. #SAFU pic.twitter.com/DOgo8zXBen
“Obtaining the ISO certification is one significant aspect of our security commitment to the industry and our community,” Binance CEO Changpeng “CZ” Zhao said in a statement.
Notably, the award was certified by both Norway’s DNV, the largest accredited registrar in the world, and the United Kingdom Accreditation Service (UKAS), the only national accreditation body acknowledged by the British government.
“Security has always been the utmost priority for Binance and our users, and we are honored that Binance’s security management is recognized by the respected DNV and UKAS,” CZ said.
The company was audited on 114 criteria across 14 categories, including security policy, asset management, operational security, and information systems. The new recognition will enable Binance to start operations in new different jurisdictions, particularly in Europe.
Further, the move marks the first time both accreditation bodies recognized a cryptocurrency firm, Binance stated.
Sharing the original Binance tweet, CZ said that the accreditation went towards “setting higher #SAFU standards for our industry” – referring to the Secure Asset Fund for Users established by the firm last year. It offers a kind of emergency insurance protection for users and their funds in extreme situations.
The shiny new ISO comes after Binance recently launched its American digital asset marketplace, Binance.US, operated by BAM Trading Services. The platform aims to be an innovative, affordable, and approachable venue for users to buy, sell, and hold digital assets within the U.S., including an easy-to-use fiat on-ramp.
