Specifically, the company obtained these certifications in France, Bahrain, and the United Arab Emirates (UAE). The achievement allows Binance to stand out as an organisation that meets internationally recognised standards in information security governance and privacy information management.
Binance received the two certificates from A-LIGN, which is a technology-driven security and compliance partner that helps global organisations mitigate cybersecurity risks. Even though it has obtained the two certifications, Binance will still need to go through annual surveillance audits to ensure continued conformity with the standards set out within the ISO 27001 and ISO 27701 certifications. According to the company press release, the cryptocurrency exchange wants to expand these certifications to other parts of the world and obtain other internationally recognized security, privacy, and compliance certifications.
Binance officials talked about this new milestone and emphasised how it can foster trust between the company and its clients by assuring them that their assets and information are protected according to the latest global standards.
In 2023, Binance has made significant efforts to expand in regions such as Japan and Thailand, but it also ceased operations in Canada. In May 2023, the company announced that it would close its doors in Canada due to new stablecoin and investor limits. Even though Binance worked with Canadian regulators for several weeks to reach a consensus, no solution was reached in the end.
However, in the same month, Binance revealed its plans to launch a crypto trading platform in Japan that will be fully compliant with local regulations. Binance also revealed that the new platform will be available in the summer of 2023, with the official launch date and more details arriving in the coming months. The company will also discontinue its crypto services for Japanese residents through its global platform by 30 November 2023 as part of its transition to Binance Japan.
Binance also secured a digital asset operator licence in Thailand via a partnership with Gulf Innova, a move that’s fully in line with Binance’s expansion efforts. Thailand’s financial regulator implemented a new set of rules for crypto custody services in January 2023, which mandated that all crypto custodians should have a contingency plan in case of unforeseen developments.
Binance has partnered with Gulf Energy’s innovation branch, Gulf Innova to create a joint crypto venture named Gulf Binance, which has received digital asset operator licences from Thailand’s Ministry of Finance.
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