SOC (System and Organization Controls) attestations are independent audit reports performed by reputable third-party auditors. These evaluations assess the effectiveness of an organization’s internal controls across critical domains such as security, availability, confidentiality, and privacy. Rigorous SOC audits are conducted regularly to verify that systems, processes, and controls consistently adhere to the highest standards. Such audits play a vital role in protecting client data and maintaining the integrity of financial transactions within the cryptocurrency industry, providing assurance that assets and information remain secure throughout every phase.
SOC 1 Type II reports concentrate on assessing internal controls related to financial reporting. This attestation involves an ongoing, continuous audit that evaluates both the design and operational effectiveness of controls over a specified timeframe. This process ensures that controls safeguarding sensitive financial information and maintaining the integrity of financial transactions are consistently monitored and upheld.
SOC 2 Type II reports evaluate controls based on five Trust Services Criteria: Security, Availability, Confidentiality, Processing Integrity, and Privacy. Like SOC 1 Type II, this attestation involves an ongoing audit that assesses the operational effectiveness of these controls over a defined period. This process ensures consistent adherence to the highest standards of security, availability, and privacy in managing cryptocurrency transactions and client information.
SOC attestations deliver independent, verified assurance that the platform adheres to the highest standards of data security, privacy, and operational integrity. These reports confirm robust protection against unauthorized access, safeguarding sensitive information at all times. Beyond security, SOC attestations validate the platform’s operational reliability, ensuring consistent performance and seamless service delivery, essential qualities in a rapidly evolving industry. Additionally, they certify compliance with global privacy regulations, demonstrating strict adherence to international data protection standards. Rigorous privacy measures minimize risks and guarantee full legal compliance.