Gemini Exchange proclaimed the successful fulfillment of a detached audit of SOC Type 2 security control systems. The audit was administered by Deloitte from the Big Four global checking firms.
Tyler Winklevoss emphasized that Gemini was preeminent in the crypto space to pass the SOC 2 Type 2 exam as an exchange and custodian.
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
According to the documents of the AICPA, SOC 2 audit is intended to study control measures in service planning systems employed to process user data.
A year ago, Gemini finished the Deloitte SOC 2 Type 1 Exam.
“While SOC 2 Type 1 judges the configuration and integration of control systems at a specific point in time, SOC 2 Type 2 checks to see if these systems have worked efficiently for a specific time,” described Yusuf Hussein, leader of Gemini Risk Department.
He added that in the future the exchange is going to be inspected annually.