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Crypto.com Gets Privacy-Related ISO Certification

The cryptocurrency platform matures to one of the first companies in the industry to achieve the ISO/IEC 27701:2019 certification.

Cryptocurrency payment platform Crypto.com announced on June 2 that it is one of the first financial technology companies to receive the ISO / IEC 27701: 2019 privacy certificate, following numerous third-party audits.
According to the announcement, the "Gold Standard" certificate aims to strengthen the company's strategy - "Defense-in-depth". It describes guidelines for implementing data protection policies related to personally identifiable data or PII in an organization.
The certificate was given by SGS, a leading certification, and inspection company with more than 2,600 offices worldwide.


Strengthening these company’s risk and security policies


In an interview with Cointelegraph, Jason Lau, director of information security for Crypto.com, applauded the announcement. He explained what it means to get a certificate like this:


“It also ensures that we have a privacy information management system in place to continuously improve data privacy in the company’s day-to-day operations, through to how we build products for our customers. Security and privacy have been core pillars since day one.”


Lau says there is a saying often used in cybersecurity: "It's not a question of whether you'll be hacked, but when." He considers this view obsolete, explaining:


“We need to work under the mantra of ‘assume breach,’ meaning organizations should assume that they are already breached, and there is an attacker inside their systems and staying under the radar to perform reconnaissance. This is one of the phases of the typical Cyber ​​Attack Kill Chain.”


Implications for the cryptocurrency industry


What this “step” means for the crypto industry, Crypto.com CISO, believes its strategy uses “the highest standards” of security and privacy. They claim to correspond to the level of traditional banks:


"Once cryptocurrency regulation becomes widespread, we will be in a position of strength to continue to grow and evolve. As you may have seen with all crypto trading, the industry is desperate to focus on cybersecurity and data privacy, and my goal is to lead by example. on Crypto.com so others can follow. "


The company's privacy risks and controls have been reviewed in accordance with ISO / IEC 27701: 2019. It has also been verified that Crypto.com has implemented a privacy information management system to help mitigate confidentiality risks.


New Crypto.com announcements


Crypto.com announced the European launch of its MCO cards on May 15, expanding its presence in Europe. It now covers 27 EU countries.


Besides, Cointelegraph reported on May 11 that a crypto platform had been integrated into the e-commerce platform, Ecwid. The platform now has a plugin built by Crypto.com that allows customers to pay with cryptocurrency on the platform.


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