Legal support of the activities of crypto exchanges: information security

On November 26, SBH Law Offices lawyer Vitaly Tvardovsky spoke at the IT-security conference 2020 with a report on the topic of information security of crypto exchanges.

Questions highlighted by Vitaly:

• HTP requirements for crypto exchanges to ensure information security.
• What should the LNPA regulating information security issues include?
• Specific measures to protect information.
• Working with personal data.
• Legal registration of information security system monitoring issues.
• Rules for organizing training of crypto exchange employees on information security issues.
• Important points:

1 Information security should be provided both from the legal side (fixing the rules in the LNPA) and from the technical side (implementation of such rules).

2 Information protection measures that can be described in the LNPA:

• rules for handling personal data of clients;
• application of means of technical and (or) cryptographic protection of information;
• restriction of the circle of persons who have the right to enter (access) the information system.
• the use of multi-factor authentication when logging in (accessing) an information system.

3 Each employee involved should clearly know their rights and responsibilities within the framework of information security.

4 The availability of an information security system for understanding is one of the key factors for maintaining such a system in operation.