Crypto.com is Now First-Ever Exchange that is now Adhering to SOC 2 Standards 0 81

As per the latest reports, Crypto.com has made an announcement in regards to acquiring a new certification. Crypto.com, one of the most popular cryptocurrency exchanges has announced that it is now in full compliance with the SOC 2 standards. Crypto.com is based in Singapore and it has a global user base.

The exchange has announced that it has successfully acquired the SOC 2 certification after a successful audit. The exchange has announced that it had Deloitte carry out the audit prior to granting certification.

Deloitte is a global consulting firm that has been around since 2015, is based in the United Kingdom. It is spread all over the world, currently providing its services in over 150 countries.

The SOC is reportedly a traditional finance standard that is known all over the world. With the acquisition of the SOC 2 certification, Crypto.com has become the first-ever cryptocurrency exchange to have acquired this recognition.

The SOC 2 certification is granted to traditional financial institutions that are considered highly trustworthy in the financial sector. Prior to the granting of the certification, the operations, policies, and information practices of the company are audited and attested. If the particular company is able to pass all the audits successfully, it is granted the SOC 2 certification.

After the acquisition of the SOC 2 certification, Crypto.com has now become the securest and most trustworthy trading platform or cryptocurrencies. The exchange has even earned the title of being the only cryptocurrency exchange that is now SOC 2 certified.

With the acquisition of the SOC 2 certification, Crypto.com has set a new standard that every major exchange would want to achieve. This will increase the standards of the regulatory framework within the cryptocurrency industry. Now, the major exchanges will be competing with each other in order to acquire the SOC 2 certification.

It is being expected that with the acquisition of the SOC 2 certification, Crypto.com will be able to attract a tremendous number of users.

With the SOC 2 standard in its grasp, the exchange can confidently claim to be offering the most reliable services to users. The exchange can offer high regulatory compliance, privacy, and security to the users.

The CEO and co-founder of Crypto.com, Kris Marszalek, talked about the recent achievement of their company. He stated that with the acquisition of the SOC 2 certification, they are able to prove to the world how well their exchange has been working.

Their exchange has finally achieved a new goal, which is going to increase the competition within the crypto-verse. With the new certification, they are now able to offer a lot more to the users than any other exchange.

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Performance of Bitcoin, Ethereum, Binance Coin, and more Major Cryptocurrencies in Past 7-Days 0 87

Among major cryptocurrencies, the cryptocurrency on top of the list is Bitcoin (BTC), demonstrating a 7.73% plunge in the past 7-days. In addition to the past 7-days, BTC has demonstrated a 0.88% plunge in the past 24-hours, bringing its price down to $54,367.96 per BTC. In the past 7-days, the trading volume presented by BTC is $301,590,859,341, and as for the past 24-hours, the trading volume has been $27,123,144,567. Bitcoin’s market capitalization is $1,025,528,906,349.

The next cryptocurrency after BTC is Ethereum (ETH) that has demonstrated a 6.72% plunge in the past 7-days. In addition to the past 7-days, ETH has demonstrated a 1.43% plunge in the past 24-hours, bringing its price down to $4,069.74 per ETH. In the past 7-days, the trading volume presented by ETH is $153,390,144,193, and for the past 24-hours, the trading volume has been $14,288,475,596. ETH’s market capitalization is $482,536,352,740.

The next cryptocurrency after ETH is Binance Coin (BNB) that has demonstrated a 1.25% surge in the past 7-days. In addition to the past 7-days, BNB has demonstrated a 0.36% plunge in the past 24-hours, bringing its price down to $594.64 per BNB. In the past 7-days, the trading volume presented by BNB is $11,052,991,055, and as for the past 24-hours, the trading volume has been $2,624,786,716. BNB’s market capitalization is $99,339,989,069.

The next cryptocurrency after BNB is Solana (SOL) that has demonstrated an 11.31% plunge in the past 7-days. In addition to the past 7-days, SOL has demonstrated a 4.70% plunge in the past 24-hours, bringing its price down to $188.92 per SOL. In the past 7-days, the trading volume presented by SOL is $17,623,413,018, and for past 24-hours, the trading volume has been $1,532,855,227. SOL’s market capitalization is $57,691,831,963.

The next cryptocurrency after SOL is Cardano (ADA) that has demonstrated a 19.82% plunge in the past 7-days. In addition to the past 7-days, ADA has demonstrated a 3.38% plunge in the past 24-hours, bringing its price down to $1.50 per ADA. In the past 7-days, the trading volume presented by ADA is $10,794,051,803, and as for the past 24-hours, the trading volume has been $1,576,176,273. ADA’s market capitalization is $50,142,620,175.

The next cryptocurrency after ADA is XRP (XRP) that has demonstrated a 13.32% plunge in the past 7-days. In addition to the past 7-days, XRP has demonstrated a 2.03% plunge in the past 24-hours, bringing its price down to $0.934 per XRP. In the past 7-days, the trading volume presented by XRP is $21,134,881,131, and for past 24-hours, the trading volume has been $2,324,678,870. XRP’s market capitalization is $44,036,264,454.

The next cryptocurrency after XRP is Polkadot (DOT) that has demonstrated an 18.52% plunge in the past 7-days. In addition to the past 7-days, DOT has demonstrated a 4.19% plunge in the past 24-hours, bringing its price down to $33.81 per DOT. In the past 7-days, the trading volume presented by DOT is $14,474,918,716, and for the past 24-hours, the trading volume has been $1,197,508,287. DOT’s market capitalization is $33,318,274,781.

Paytm Founder Believes Crypto is Here to Stay 0 83

One of the most prominent digital payment companies based in India is Paytm and its founder recently shared his views about the cryptocurrency space. He appears to be quite positive about crypto and notes that it is here to stay. As a matter of fact, he thinks that crypto will become a mainstream technology in a couple of years. The Indian Chamber of Commerce (ICC) organized a virtual conference on Thursday that provided Vijay Shekhar Sharma the opportunity to speak. Paytm’s founder said that cryptocurrency will stay and is the answer Silicon Valley has to Wall Street. 

A multinational technology company, Paytm is based in India and specializes in digital payments. Last week, the company completed its Initial Public Offering (IPO). Paytm disclosed in its IPO filing that its total number of registered users has reached an impressive 337 million and is dealing with 22 million merchants. Sharma opined that he was very positive about cryptocurrencies because they are based on cryptography and in a couple of years, they would also become a mainstream technology very much like the internet that has now become a part of our daily lives. The Paytm founder did admit that currently, people were only using crypto as a means of speculation.

He elaborated that right now, every government appears to be confused about cryptocurrency, but in a time span of five years, crypto would become mainstream technology. Sharma thinks that people will come to see what the world will be like without crypt. But, he was quick to add that this doesn’t imply that digital currency would actually replace sovereign currencies, such as the Indian rupee. The Paytm founder also added that once his company’s revenue goes past the $1 billion thresholds, he will launch the service in some developed countries as well. 

Currently, he said that Paytm was running the largest payments system in Japan in a JV, but they would go without a partner later on. The Chief Financial Officer (CFO) of Paytm, Madhur Deora had said early this month that his company was considering offering bitcoin services to people, if cryptocurrencies are to be legalized in India. However, this does not seem to be likely any time soon because the Indian government has certainly not taken a positive stance towards these crypto assets. As a matter of fact, the government recently made headlines as it is pushing for crypto legislation in the country and not the good kind.

It is expected that a crypto bill will be introduced and passed in the parliament’s winter session that will begin next week. The purpose of the bill is to impose a ban on private cryptocurrencies, but there are expected to be some exceptions. But, since the bill has not been published, it is not clear as to what kind of exceptions will be applicable. There have been conflicting reports and debates, as some people believe that it just might legalize a few cryptocurrencies, while others believe it will ban them completely in favor of the digital rupee to be introduced by the Reserve Bank of India (RBI). 

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