Gemini Successfully Completes Another Security Audit
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The US-based regulated cryptocurrency exchange Gemini has completed another security audit, which covers the financial operations and customer reporting controls of the exchange and Gemini Custody.

An official announcement says that the audit was conducted by one of the Big Four accounting firms called Deloitte & Touche LLP.

"A SOC 1 Type 1 examination provides independent validation of a company’s financial operations and its customer reporting controls designed to mitigate the risk of significant error, omission, or data loss," wrote Yusuf Hussain Gemini Head of Risk.

The exchange says it will be completing a SOC 1 Type 2 examination on an annual basis.

In January 2019, the exchange founded by Cameron and Tyler Winklevoss passed a security compliance audit also carried out by Deloitte.

Ex-Morgan Stanley Exec Joins Gemini

Earlier iHodl reported that Gemini launched a captive crypto-focused insurance company called Nakamoto.

The company allows Gemini Custody to increase its insurance capacity beyond the current coverage in the commercial insurance market.

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