According to official sources, Tether has announced the completion of SOC 2 Type 1 audit. It is said to be a major security update for the stablecoin issuer. SOC 2 Type 1 audit is a security compliance standard developed by the American Institute of Certified Public Accountants (AICPA). The SOC 2 Type 1 report is based on security, availability, processing integrity, and confidentiality, ensuring that Tether has strong IT control measures to ensure the security of its systems, access when needed, and confidentiality of information.