VeCarbon Management System Gets 3rd-Level National Security Approval

• VeCarbon carbon management SaaS system has passed the national system-security level protection evaluation and received approval from the Ministry of Public Security. 
• The approval is a Class III protection, the highest level of protection certification for non-banking institutions.
• iPay, Crypto.com, and Ooredoo Money all got regulatory approval recently.

According to a Chinese report, the VeCarbon carbon management SaaS system, which Shanghai Tanlian Technology Co., Ltd. independently created, recently passed the national system-security level protection evaluation and received approval from the People’s Republic of China’s Ministry of Public Security. 

A statement from VeCarbon said the new development proves that it has attained financial-level information security and data protection, offering cooperative clients a security assurance to use more secure digital carbon management services.

VeCarbon is an emission management company pioneering blockchain technology‘s integration into calculating and quantifying carbon emissions in various scenarios.

Additionally, the approval is a Class III protection, the highest level of protection certification for non-banking institutions. The certification evaluation covers five protection security levels and five security management requirements, including nearly 300 other requirements.

In related news, the central bank of Qatar recently granted its first digital payment license to iPay by Vodafone Qatar and Ooredoo Money, two businesses that offer electronic payment services.

The Qatar apex bank believed the move was an initial step to include all companies providing digital payment services under the supervision of the Qatar Central Bank. This will contribute to the development of the financial technology sector and enhance financial inclusion.

Likewise, the Singapore-based cryptocurrency platform Crypto.com has received regulatory approval from the Financial Conduct Authority (FCA) in the United Kingdom as a crypto asset business. 

Under the license, Crypto.com will be able to offer UK customers a suite of products and services compliant with local regulations. A study by BanklessTimes showed that the UK is a high-potential market for cryptocurrencies, with a 650% growth in crypto usage from 2018 to 2021.

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