Representatives of the Gemini crypto exchange proudly announced the successful completion of site security monitoring by SOC 2 type 2 audit. The company said the audit was carried out by specialists from Deloitte, which, by the way, enters the so-called “Big Four” of global audit companies.
Trust is @Gemini's product. Today we continue to build trust by becoming the world's first crypto exchange and custodian to complete a SOC 2 Type 2 Examination! 👍🚀cc @Deloitte. https://t.co/3XCLi9JPkG
— Tyler Winklevoss (@tylerwinklevoss) January 23, 2020
The Winklevoss brothers emphasized it was their exchange that was the first in the industry to successfully pass the SOC 2 Type 2 audit. And this statement is true.
SOC 2 audit is the study of control measures in the systems of a service organization that are used to process personal data of users.
Recall that the Winklevoss brothers` exchange passed an audit of SOC 2 type 1 last year.
“While SOC 2 Type 1 evaluates the design and implementation of control systems at a specific point in time, SOC 2 Type 2 checks whether these systems worked effectively for a specific period of time,” Yusuf Hussein, the Head of Gemini Risk Department explained.
He also said that the site will pass an audit yearly.
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