Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

CoinSpeaker
Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review
To gain more trust and raise reputation, many companies address auditing firms to review their activity. Recently, Gemini, licensed digital asset exchange based in New York, did the same and applied to Deloitte, one of the “Big Four” auditing firms, to conduct a security compliance audit.
As a result, Gemini has successfully completed the SOC 2 Type 1 examination and confirmed its status of a company with a high level of security compliance in protecting customer data and funds.

BitcoinOil Announces the Implementation of its Proof of Stake Algorithm
Tuesday September 10, 2019

Coinspeaker BitcoinOil Announces the Implementation of its Proof of Stake AlgorithmBitcoinOil GmbH plans to solve the existing environmental and processual problems of the cryptocurrency sector by implementing a Proof of Stake algorithm on a Bitcoin based Blockchain instead of the widely used Proof-of-Work structure.BitcoinOil (BTCO) is a new cryptocurrency, a hard fork of the original […]

The post BitcoinOil Announces the Implementation of its Proof of Stake Algorithm appeared first on 12bit trade.

Gemini Is The World’s First Crypto Exchange and Custodian To Complete SOC 2 Review @Deloitte https://t.co/bNbVYkhl89
— Gemini (@Gemini) January 29, 2019


Thursday January 01, 1970

According to the American Institute of Certified Public Accountants (AICPA), “SOC 2 examinations are specifically designed to address controls at a service organization relevant to the systems at the service organization used to process users’ data”.
As Gemini stated, their mission is to build the future of money, and the SOC 2 review is an important step towards raising the bar for consumer protection, safeguards, and industry best practices. The company said that Deloitte inspected the design of security controls within the exchange to ensure it met the criteria set by the AICPA.
Gemini explained:
“This included a review of Gemini’s exchange application, infrastructure, and underlying customer database, as well as its institutional-grade cryptocurrency storage system that custodies the private keys of Gemini’s online and offline wallets.”
SOC 2 examinations were originally released in 2011 by the American Institute of Certified Public Accountants (AICPA). They were introduced as an extension of the pre-existing SAS 70 audits, checking the way that companies secure their networks, infrastructure, customer data, and finances.
For Gemini, completion of the audit is a significant step that makes the company the world’s first cryptocurrency exchange and custodian with this level of security compliance.
They said:
“We feel strongly that this standard of compliance is what all retail and institutional consumers should expect of their cryptocurrency exchange and custodian. We know what is at stake when you trade and store crypto. That is why, in addition to our SOC 2 Type 1 review, we are also committed to obtaining our SOC 2 Type 2 review in 2019. This additional level of assurance will further validate the effectiveness of our internal controls.”
As the company has promised, a SOC 2 examination will be performed on an annual basis in order to demonstrate their “ongoing commitment to safeguarding your data and cryptocurrency”.
Gemini Highlights
Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Founded in 2014 by Cameron and Tyler Winklevoss, Gemini operates in the United States, Canada, the United Kingdom, South Korea, Hong Kong, and Singapore. The founders of Gemini are well-known for their optimism about Bitcoin ambitions to make Bitcoin ETFs a reality.
The company has its own currency, the Gemini dollar. It is a cryptographic token built on the Ethereum Network according to the ERC20 standard for tokens.
In December 2018, Gemini introduced its mobile app to facilitate crypto trading for users of Android and iOS devices. The gemini app can be used for purchasing and selling cryptocurrencies, tracking market prices, viewing users’ own portfolios value, setting price alerts, and for other activities related to crypto trading.
Among the options offered by the app is also providing people with an opportunity to buy all coins listed on the exchange simultaneously. This Gemini’s basket order feature is called Cryptoverse.
Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

Bruins Wrap: Boston’s Comeback Falls Short In 5-3 Loss To Penguins
Saturday December 15, 2018

The Boston Bruins didn’t come out on top Friday, but it certainly wasn’t due to a lack of guts. After facing two separate two-goal deficits to the Pittsburgh Penguins, the Bruins rallied to tie the score just over the midway point of the third period. Boston’s win streak would be halted at four, however, as […]

The post Bruins Wrap: Boston’s Comeback Falls Short In 5-3 Loss To Penguins appeared first on 12bet - Bet365.