News
Kraken is a founder of the Blockchain Security Standards Council
We are pleased to announce the founding of the Blockchain Security Standards Council (BSSC). This non-profit organization will seek to establish uniform security standards in the cryptocurrency industry.
BSSC participants will address emerging security threats by working toward a consensus of agreed-upon standards. These threats include fraud, campaigns targeting nation states, and exploits of protocols and contracts, all of which undermine trust in cryptocurrency technology.
“Establishing voluntary security standards is a critical component of cryptocurrency’s maturation,” said Nick Percoco, Chief Security Officer at Kraken. “Industry players working together to build a stronger overall ecosystem can only help drive trust in the asset class as a whole. We are proud to play our part in designing these standards that the industry will adhere to.”
The founding team of BSSC consists of Kraken, Anchorage Digital, Bastion, Coinbase, Figment, Fireblocks, Halborn, OpenZeppelin, Ribbit Capital, and Sentinel Global. All BSSCl companies are committed to developing industry security benchmarks and a robust audit process by the end of 2024.
The BSSC also aims to collaborate with regulators and policy makers, educating them as the blockchain ecosystem grows, to ensure that the industry develops unified standards that protect consumers while fostering innovation in the asset class.
Co-founding the BSSC is another example of Kraken’s dedicated security strategy. It follows our co-founding of the first Cryptographic Information Sharing and Analysis Center (ISAC)This non-profit organization, which also includes members from across the crypto ecosystem, will effectively disseminate knowledge and best practices with the overall goal of reducing cybersecurity exploits.
These materials are for general informational purposes only and are not investment advice or a recommendation or solicitation to buy, sell, trade or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of this information and will not be liable for any errors, omissions or delays in this information or for any loss, injury or damage arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Certain crypto products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of cryptoasset markets can lead to loss of funds. Taxes may be payable on any returns and/or any increase in the value of your cryptoassets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.