Cryptocurrency exchange Gemini has passed a security compliance audit conducted by Deloitte, boosting their status as one of the most regulated and compliant cryptocurrency exchanges.
Gemini founders the Winklevoss twins confirmed that they are the first cryptocurrency organisation to have completed the System and Organisation Controls (SOC) 2 Type 1 examination.
“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,” according to the American Institute of Certified Public Accountants (AICPA).
Gemini, who have sold themselves on being “the regulated cryptocurrency exchange,” said Deloitte inspected the design of security controls within the exchange to ensure it met criteria set by the AICPA.
Seen today on on the New York subway A Train, @Gemini makes a huge play for mainstream adoption: pic.twitter.com/DKed4kseTK
— Michael del Castillo (@DelRayMan) January 4, 2019
“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,” the company added.
The recent audit by Deloitte, coupled with last month’s audit of the exchange’s native stablecoin, confirm Gemini’s position as one of the most compliant exchanges in the cryptocurrency space.
In a bold marketing move, Gemini recently took to the streets of New York to advertise their product. Posters were plastered on taxis, buses, and buildings with slogans like “crypto needs rules” and “finally, a regulated place to buy, sell, and store crypto.”
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