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CoinSpot Cryptocurrency Exchange Wins ISO Security Accreditation

CoinSpot, one of the most popular cryptocurrency exchanges from Australia has won the International Organization for Standardization (ISO) information security accreditation stamp from the authorities.

Reportedly, with this success, Coinspot has become the 1st cryptocurrency exchange in Australia who has received the ISO approved stamp. To meet the requirements of obtaining the internationally recognized ISO/IEC27001 accreditation, CoinSpot had to follow all the vital prerequisites including external audit.

The external audit was conducted by SCI Qual International, an accredited Joint Accreditation System of Australia and New Zealand certification body. 

To meet the internationally recognized ISO/IEC27001 standard, CoinSpot was required to complete an external audit undertaken by SCI Qual International, an accredited Joint Accreditation System of Australia and New Zealand certification body. 

As per ISO/IEC 27001 standards, the organizations who receive the consent are those who fall under the management system that is intended to bring information security under management control and gives specific requirements. Organizations that meet the requirements may be certified by an accredited certification body following successful completion of an audit.

There is a network of national bodies across 164 nations who works jointly and facilitates ISO to develop international standards.

Role of SCI Qual in CoinSpot Audit

SCI Qual is known for its meticulous research and investigation processes when it comes to examine the exchange’s ongoing information security management processes and practices. The examination includes the complete report linked to the employees, intellectual property, suppliers, and last but not least about clients.

The intent of SCI Qual is to establish the trust of the organization as per the market standards. Also, the audit policies are vital to aid the clients to understand the risk factor and provide them the confidence to develop long-term relations with their exchange/organization.

SCI Qual audit is also significant to enhance the security processes by rejecting the unauthorised access, for instance hacking, as well as destruction, alteration or any data related to the organization’s information management systems.

Russell Wilson, founder of CoinSpot, said that, “There are inherent risks in keeping assets stored in exchanges as the history of the industry will attest and this ISO certification provides evidence of the hard work and continued effort of our team to protect our customers.

According to CoinSpot statistics, the crypto exchange platform is having a userbase of over 1million customers. The website CoinSpot, and mobile applications, (collectively “Platform“) is owned, operated and controlled by Casey Block Services Pty Ltd ABN 19 619 574 186, trading as CoinSpot. 

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