Tether Achieves SOC 2 Type 1 Compliance, Reinforcing Commitment to Security and Transparency

Tether audit

On April 1, 2024, Tether, a leading cryptocurrency company, announced the successful completion of the System Organization Control (SOC) 2 Type 1 Audit, marking a significant milestone in its security compliance efforts. Paolo Ardoino, Tether’s CEO, emphasized the importance of this achievement, stating, “This compliance measure assures our customers that their assets and data are managed in an environment meeting the highest standards for data protection and information security.”

The SOC 2 Type 1 audit, developed by the American Institute of Certified Public Accountants (AICPA), evaluates an organization’s adherence to five key trust service principles: Security, Availability, Processing Integrity, Confidentiality, and Privacy. Tether’s report demonstrated robust IT control measures, including firewalls, intrusion detection, and enhanced authentication protocols, ensuring the safety and privacy of customer data.

Tether’s commitment to completing the SOC 2 Type 1 audit underscores its dedication to transparency and accountability in the cryptocurrency industry. The company aims to undergo annual SOC 2 examinations to maintain the highest security standards and plans to pursue the SOC 2 Type 2 Certificate in the future. This proactive approach aligns with Tether’s mission to build trust within the user community and engage constructively with regulatory authorities, reinforcing its position as the world’s most trusted stablecoin.

Author: Grace

Grace likes gardening. She holds some BTC and ETH.