DMG Blockchain Solutions ("DMG") Completes Successful SOC 2 Attestation for its Alberta-Based Systemic Trust Company
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) has announced that its wholly owned affiliate, Systemic Trust Company (STC), has successfully completed a SOC 2 Type 1 attestation. This compliance, issued on August 29, 2024, validates STC's enterprise-level security for customer data. The examination was conducted by a licensed CPA firm in New York City.
SOC 2 is a voluntary compliance standard developed by the American Institute of CPAs (AICPA) that specifies how organizations should manage customer data. It is based on five Trust Services Criteria: security, availability, processing integrity, confidentiality, and privacy. As part of its ongoing commitment to high compliance standards, STC is scheduled for a follow-up SOC 2 Type 2 attestation in 2025.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) ha annunciato che la sua affiliata interamente controllata, Systemic Trust Company (STC), ha completato con successo una attestazione SOC 2 Tipo 1. Questa certificazione, emessa il 29 agosto 2024, convalida la sicurezza a livello aziendale di STC per i dati dei clienti. L'esame è stato condotto da una società di CPA autorizzata a New York City.
Il SOC 2 è uno standard di conformità volontaria sviluppato dall'American Institute of CPAs (AICPA) che specifica come le organizzazioni dovrebbero gestire i dati dei clienti. Si basa su cinque Criteri dei Servizi di Fiducia: sicurezza, disponibilità, integrità dei processi, riservatezza e privacy. Nell'ambito del suo impegno continuo verso elevati standard di conformità, STC è programmata per un follow-up della attestazione SOC 2 Tipo 2 nel 2025.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) ha anunciado que su afiliada de propiedad total, Systemic Trust Company (STC), ha completado con éxito una certificación SOC 2 Tipo 1. Esta conformidad, emitida el 29 de agosto de 2024, valida la seguridad a nivel empresarial de STC para los datos de los clientes. La evaluación fue realizada por una firma de CPA autorizada en la ciudad de Nueva York.
El SOC 2 es un estándar de cumplimiento voluntario desarrollado por el American Institute of CPAs (AICPA) que especifica cómo las organizaciones deben manejar los datos de los clientes. Se basa en cinco Criterios de Servicios de Confianza: seguridad, disponibilidad, integridad del procesamiento, confidencialidad y privacidad. Como parte de su compromiso continuo con altos estándares de cumplimiento, STC tiene programada una certificación SOC 2 Tipo 2 de seguimiento para 2025.
DMG 블록체인 솔루션즈 Inc. (TSX-V: DMGI) (OTCQB US: DMGGF)는 전액 출자 자회사인 Systemic Trust Company (STC)가 SOC 2 타입 1 인증을 성공적으로 완료했다고 발표했습니다. 이 인증은 2024년 8월 29일에 발행되었으며, 고객 데이터에 대한 STC의 기업 수준 보안을 검증합니다. 이 검사는 뉴욕시에 있는 공인 CPA 회사에 의해 수행되었습니다.
SOC 2는 고객 데이터 관리 방법을 조직에 지정하는 미국 공인 회계사 협회(AICPA)에서 개발한 자발적인 준수 기준입니다. 이는 다섯 가지 신뢰 서비스 기준인 보안, 가용성, 처리 무결성, 기밀성 및 개인 정보 보호를 기반으로 합니다. STC는 높은 준수 기준에 대한 지속적인 약속의 일환으로 2025년에 SOC 2 타입 2 인증 후속 조치를 계획하고 있습니다.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) a annoncé que sa filiale entièrement détenue, Systemic Trust Company (STC), a réussi à finaliser une attestation SOC 2 Type 1. Cette conformité, délivrée le 29 août 2024, valide la sécurité de STC à l'échelle de l'entreprise pour les données des clients. L'examen a été réalisé par un cabinet d'expertise comptable agréé à New York.
Le SOC 2 est une norme de conformité volontaire développée par l'American Institute of CPAs (AICPA) qui spécifie comment les organisations doivent gérer les données des clients. Elle est basée sur cinq critères de services de confiance : sécurologie, disponibilité, intégrité des traitements, confidentialité et vie privée. Dans le cadre de son engagement continu envers des normes de conformité élevées, STC est programmée pour une attestation SOC 2 Type 2 de suivi en 2025.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) hat angekündigt, dass ihre hundertprozentige Tochtergesellschaft, die Systemic Trust Company (STC), erfolgreich eine SOC 2 Typ 1-Bescheinigung abgeschlossen hat. Diese Zertifizierung, die am 29. August 2024 ausgestellt wurde, bestätigt die Unternehmenssicherheit von STC für Kundendaten. Die Prüfung wurde von einer lizenzierten CPA-Firma in New York City durchgeführt.
SOC 2 ist ein freiwilliger Compliance-Standard, der vom American Institute of CPAs (AICPA) entwickelt wurde und festlegt, wie Organisationen mit Kundendaten umgehen sollten. Es basiert auf fünf Kriterien der Vertrauensdienste: Sicherheit, Verfügbarkeit, Integrität der Verarbeitung, Vertraulichkeit und Datenschutz. Im Rahmen des kontinuierlichen Engagements für hohe Compliance-Standards ist STC für eine Folgebescheinigung SOC 2 Typ 2 im Jahr 2025 geplant.
- Successful completion of SOC 2 Type 1 attestation, validating enterprise-level security
- Demonstrates commitment to high compliance standards in data management
- Scheduled follow-up SOC 2 Type 2 attestation in 2025, showing ongoing dedication to security
- None.
VANCOUVER, British Columbia, Sept. 09, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leading independent digital asset and blockchain solutions provider, announced today that its wholly owned affiliate, Systemic Trust Company (“Systemic Trust” or "STC") has achieved System and Organization Controls (“SOC”) compliance in accordance with American Institute of Certified Public Accountants (AICPA) standards for SOC for Service Organizations.
Achieving this standard serves as third-party industry validation that Systemic Trust provides enterprise-level security for customer’s data secured in the company’s systems. Systemic Trust’s SOC 2 Type 1 report was issued on August 29, 2024.
Systemic Trust’s SOC 2 Type 1 report describes the organization’s systems and whether the system design complies with the relevant trust principles. The examination was conducted by a licensed CPA firm based in New York City, New York and provides independent audit and attestation services to its clients. As part of its regulatory requirement and ongoing commitment to high compliance standards, Systemic Trust is scheduled to conduct a follow up SOC 2 Type 2 attestation in 2025.
SOC 2 is a voluntary compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data. The standard is based on the following Trust Services Criteria: security, availability, processing integrity, confidentiality, privacy. A SOC 2 report is tailored to the unique needs of each organization. Depending on its specific business practices, each organization can design controls that follow one or more principles of trust. These internal reports provide organizations and their regulators, business partners, and suppliers, with important information about how the organization manages its data.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and data center company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel.
About Systemic Trust Company Ltd.
Systemic Trust Company is a special purpose trust company incorporated under the Loan and Trust Corporations Act (Alberta). When STC receives its registration and regulatory approval for operations, it will operate as a standalone, independently capitalized, prudently managed trust company and Qualified Custodian offering digital asset custody services for institutional clients.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & Director
Tel: 516-222-2560
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Investor Relations Contact:
investors@dmgblockchain.com
For Media Inquiries:
Chantelle Borrelli
Head of Communications
chantelle@dmgblockchain.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding presenting at upcoming conferences, DMG’s strategies and plans, the potential and benefits of Terra Pool, delivering products that enable the monetization of bitcoin transactions, developing and executing on the Company’s products and services, increasing self-mining, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hash rate mining difficulty.
Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG's bitcoins; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
FAQ
What compliance standard did DMG Blockchain Solutions' Systemic Trust Company achieve?
What does the SOC 2 compliance mean for DMG Blockchain Solutions (DMGGF)?
When is DMG Blockchain Solutions' Systemic Trust Company scheduled for SOC 2 Type 2 attestation?
What are the Trust Services Criteria for SOC 2 compliance that DMG's Systemic Trust Company adheres to?
