Gemini completes 2nd level of cybersecurity compliance exam

by in Blockchain News

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Gemini Exchange proclaimed the successful fulfillment of a detached audit of SOC Type 2 security control systems. The audit was administered by Deloitte from the Big Four global checking firms.

Related: Gemini Exchange opens cryptocurrency asset insurance company

Tyler Winklevoss emphasized that Gemini was preeminent in the crypto space to pass the SOC 2 Type 2 exam as an exchange and custodian.

According to the documents of the AICPA, SOC 2 audit is intended to study control measures in service planning systems employed to process user data.

A year ago, Gemini finished the Deloitte SOC 2 Type 1 Exam.

“While SOC 2 Type 1 judges the configuration and integration of control systems at a specific point in time, SOC 2 Type 2 checks to see if these systems have worked efficiently for a specific time,” described Yusuf Hussein, leader of Gemini Risk Department.

He added that in the future the exchange is going to be inspected annually.