The National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) as well as Privacy Framework (PF) examinations, as certified by SGS, a globally renowned certification organization, have been satisfactorily extended by Crypto.com, the world’s biggest crypto marketplace.
The world’s fastest-growing global cryptocurrency platform, Crypto.com, was founded in 2016 and has more than 50 million customers. Check out the crypto.com review to understand the platform better.
In its NIST CSF and PF certificates, SGS confirmed that Crypto.com is functioning at the maximum maturity level, “Adaptive (Level 4),” above the typical market average. This extension comes after Crypto.com received its initial NIST CSF and PF certification from SGS in November 2020.
While the NIST PF aims to enhance privacy and security through a strategic point of view, the NIST CSF, established by the US Department of Commerce, provides complete advice and best practices that business organizations can use to improve information safety and cybercrime risk assessment. The NIST CSF and PF are now 2 of the safety maturity standards most extensively used throughout all businesses.
The five fundamental NIST foundation functions—Identify, Safeguard, Detect, Respond, and Recovery for CSF—were used to evaluate Crypto.com. It comprises the Detect, Govern, Control, Inform, and Safeguard roles for PF. The models identify four application levels (from smallest to highest in levels) are:
- Level-1 – Partial
- Level-2 – Risk-Informed
- Level-3 – Repeatable
- Level-4 – Adaptive
These levels gauge the company’s performance toward adopting the NIST standards. With the highest rating of “Adaptive (Level 4)” for both NIST standards, SGS confirmed Crypto.com’s security features.
Crypto.com has attained a broad range of compliance monitoring certificates. Being accredited with ISO/IEC 27701:2019, ISO22301:2019, ISO27001:2013, PCI:DSS 3.2.1, SOC (Service Organization Control) 2 Type 2, Level 1 compliance, and achieving the greatest maturity levels makes Crypto.com the very first virtual currency trading organization in the world to be certified with those mentioned above.
It was no small feat to become the first in the field to receive this accolade in 2020, but maintaining this resolution in the face of a constantly shifting threat scenario calls for complete dedication. A key priority, security, and privacy, will continue to invest in the knowledge and tools necessary to maintain best practices and protect Crypto.com.
Since the beginning, a major priority has been the safety of their clients. This updated evaluation is the most recent illustration of Crypto.com’s dedication to security controls. Furthermore, Crypto.com recently obtained preliminary authorization for a Major Payment Institution License from the Monetary Authority of Singapore, authorization for enrollment as a crypto asset biz from the UK Financial Conduct Authority (FCA), temporary authorization for its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, licensing under the Electronic Financial Transaction Act and as a Virtual Asset Service Provider in South Korea, and registration in Italy from the Italian Financial Services Authority.