Korean Crypto Exchange Earns Key Government Cybersecurity Certification

Korean Crypto Exchange Earns Key  Government Cybersecurity Certification
ôîòî ïîêàçàíî ñ : bitcoinmagazine.com

2018-10-30 23:51


South Korean cryptocurrency exchange GOPAX has become the first blockchain company to attain K-ISMS certification, the official standard in Korea for information security management systems. This is an important sign of approval by the Korean government regarding GOPAX’s cybersecurity infrastructure.

K-ISMS certification is an official domestic standard regarding the establishment, management and operation of information security systems for selected industries including server hosts, portal services and internet service providers. Based on Article 47 of the Act on Promotion of Information and Communications Network Utilization and Information Protection (“the Network Act”), the certification carries significance for the blockchain sector as it signals that blockchain companies possess the capacity to manage and operate information security systems at a level on par with much more established corporations and businesses, specifically those in the technology and financial sectors.

In an interview with Bitcoin Magazine, Myeonghun Baek, the chief information security officer (CISO) at GOPAX, explained, “K-ISMS certification is mandatory for companies above a certain level in terms of either sales or user numbers that utilize information communication networks. GOPAX is currently not at that level, and thus didn’t need to obtain certification, but we voluntarily underwent the K-ISMS audit to become certified. As there is no official operating standard for blockchain companies currently in place, GOPAX receiving K-ISMS certification is a sign that it is willing to be ahead of legislation and set an operating standard for other blockchain companies.”

The K-ISMS certification process takes place through the Korea Internet and Security Agency (KISA), which operates a team of specially trained auditors to examine the applying companies, along with a committee that evaluates the audit results.

The audit itself covers two major areas: information security management processes and information security measures. The former consists of 5 individual categories that are examined, including management responsibilities and organizational structure, and risk management and post-incident management, while the second is composed of 13 categories, such as information security policy, information security organization, external security, the categorization of information assets and information security training.

This is not GOPAX’s first step toward government compliance. Last July, the company was ISO/IEC 27001–certified, and was ultimately the first cryptocurrency exchange in the world to become so. ISO/IEC 27001 is a global information security management standard published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). It works as a standard used between companies on an international level, which according to Baek suggests that GOPAX meets certain standards around the globe and can thus operate on a level that ensures basic competence regarding information security management.

“For operating within the bounds of Korea, K-ISMS is still more significant because it offers tangible benefits when operating a relevant business within Korean jurisdiction, as well as discounts when applying for information security insurance and bonus points during KISA’s information security evaluations,” said Baek. “Companies looking to scale within the financial and tech sectors will eventually be required to obtain K-ISMS certification or face penalties.”

Baek mentions that under the Network Act, cryptocurrency exchanges are presently identified as “information and communications service providers” rather than financial institutions. Thus, they fall under the jurisdiction of the Korean Ministry of Science and ICT (MSIT) rather than Korea’s Financial Services Commission (FSC), but he believes this opens yet another door for GOPAX and its staff.

“It’s different from countries like Japan, where the overarching organization regarding crypto exchanges is the Financial Services Agency,” he stated. “However, the blockchain industry has been requesting the government to establish a set of rules so that the companies know what is out of bounds when it comes to operating a blockchain company.”

He continued, “While nothing official has come out in that regard, it is also up to the companies themselves to demonstrate that they can operate up to standards that are currently in place for other companies in the tech sector. By achieving K-ISMS certification, GOPAX has shown that it is capable and serious about legal compliance, and we feel this move can inspire other companies to follow suit. That would show that the companies in this sector are interested in compliance and in cooperating with the government to establish a set playing field and to operate in a transparent manner.”


This article originally appeared on Bitcoin Magazine.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Safe Exchange Coin (SAFEX) íà Currencies.ru

$ 0.0054306 (-0.25%)
Îáúåì 24H $1.742k
Èçìåíåèÿ 24h: 1.41 %, 7d: -8.63 %
Cåãîäíÿ L: $0.0053635 - H: $0.0055227
Êàïèòàëèçàöèÿ $6.099m Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0118418 (-54.14%)

information security companies certification k-isms gopax management

information security → Ðåçóëüòàòîâ: 119


Ôîòî:

The free internet makes us the product — we need to stop it

The bad headlines continue to stack up for Facebook this year: from the Cambridge Analytica scandal, to the New York Times report that Facebook gave Apple, Samsung, and other mobile device makers access to its users personal data without permission, to the revelation that the firm routinely gives user information and preferences to several Chinese telecommunications firms, to last week’s security breach in which hackers took control of 50 million user accounts as well as any third-party sites those users logged into via Facebook.

2018-10-6 19:30


Citigroup’s New Digital Asset Receipt (DAR) as a Bitcoin Security Product Looks to Crack Crypto Code for Investors

Citigroup Insider Shares Citi is Working on a Bitcoin ‘Security’ Product, Aims to Be the Leading Company Citigroup is working in order to launch a new Bitcoin trading product to the market. The main intention is to be ahead of its Tier I banking rivals around the world. The information has been released by some […]

2018-9-10 02:31


Ôîòî:

Crypto Wallet Information Can Now Be Stored in DNA! – Here Are the Pros and Cons

These days, reports of crypto hacking incidents continue to mount, which explains why security is currently the number one concern for all cryptocurrency investors. For those who want an ultrasecure storage solution for crypto wallet information, a start-up called Carverr is offering a high-tech solution — storing crypto passwords in DNA.

2018-9-1 15:59


Intel’s Foreshadow CPU Bug Exposes SGX’s Sensitive Data, Crypto World on Notice

Security Flaw Exposed In Intels Software Guard Extensions On Tuesday, analysts discovered the Foreshadow vulnerability in Intel’s Software Guard Extensions (SGX). This vulnerability is defined as “a speculative execution attack on Intel processors which allows an attacker to steal sensitive information stored inside personal computers or third-party clouds.” There are two different approaches that this […]

2018-8-16 19:25


EMI Foundation ICO

The EMI (Ecosystem of Medical Informatics) platform is aims at achieving the following three objectives. That is the system that realizes improvement of medical science by guaranteeing the safety, security & inte-operability of medical information and aggregating the data using big data analytics and artificial intelligence on the Blockchain platform.

2018-8-10 23:26


Spatium ICO

Spatium is creating a financial ecosystem with an unparalleled level of security. Spatium distributes secret data storage between multiple physical devices and implements a distributed signing algorithm over such data, thus eliminating the need for an explicit private key, which was previously a single point of failure.

2018-8-7 02:57


Ôîòî:

Breeze Wallet with Breeze Privacy Protocol Mainnet Now Available for Download

The Breeze Wallet with the Breeze Privacy Protocol public mainnet has been released and is now open to the public. The wallet showcases Stratis technology — a platform built for visual basic apps and blockchain solutions — and places heavy emphasis on both privacy and security for businesses seeking to implement business-to-business (B2B) transactions on the Stratis and Bitcoin blockchain networks.

2018-8-4 00:02