diff --git a/SECURITY.md b/SECURITY.md
index bfd502e14..f6537f69d 100644
--- a/SECURITY.md
+++ b/SECURITY.md
@@ -2,293 +2,104 @@
 
 Grin has a [code of conduct](CODE_OF_CONDUCT.md) and the handling of vulnerability disclosure is no exception. We are committed to conduct our security process in a professional and civil manner. Public shaming, under-reporting or misrepresentation of vulnerabilities will not be tolerated.
 
-## Responsible Disclosure
+## Responsible Disclosure Standard
 
-For all security related issues, Grin has 4 main points of contact:
+Grin follows a
+[community standard for responsible disclosure](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#the-standard)
+in cryptocurrency and related software. This document is a public commitment to
+following the standard.
 
-* Daniel Lehnberg, daniel.lehnberg at protonmail.com
-* Ignotus Peverell, igno.peverell at protonmail.com
-* hashmap, hashmap.dev at protonmail.com
-* John Woeltz, joltz at protonmail.com
+This standard provides detailed information for:
+- [Initial Contact](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#initial-contact):
+how the initial contact process works
+- [Giving Details](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#giving-details):
+what details to include with your disclosure after receiving a response to your
+initial contact
+- [Setting Dates](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#setting-dates):
+details for when to release updates and publicize details of the issue
 
-Send all communications to all parties and expect a reply within 48h. Public keys can be found at the end of this document.
+Any expected deviations and necessary clarifications around the standard are
+explained in the following sections.
 
-## Vulnerability Handling
+## Receiving Disclosures
 
-Upon reception of a vulnerability disclosure, the Grin team will:
+Grin is committed to working with researchers who submit security vulnerability
+notifications to us to resolve those issues on an appropriate timeline and perform
+a coordinated release, giving credit to the reporter if they would like.
 
-* Reply within a 48h window.
-* Within a week, a [CVVS v3](https://nvd.nist.gov/vuln-metrics/cvss/v3-calculator) severity score should be attributed.
-* Keep communicating regularly about the state of a fix, especially for High or Critical severity vulnerabilities.
-* Once a fix has been identified, agree on a timeline for release and public disclosure.
+Please submit issues to all of the following main points of contact for
+security related issues according to the
+[initial contact](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#initial-contact)
+and [details](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#giving-details)
+guidelines. More information is available about the
+[expected timelines for the full disclosure cycle](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#standard-disclosure-timelines).
 
-Releasing a fix should include the following steps:
+For all security related issues, Grin has 3 main points of contact:
 
-* Creation of a CVE number for all Medium and above severity vulnerabilities.
-* Notify all package maintainers or distributors.
-* Inclusion of a vulnerability explanation, the CVE and the security researcher or team who found the vulnerability in release notes and project vulnerability list (link TBD).
-* Publicize the vulnerability commensurately with severity and encourage fast upgrades (possibly with additional documentation to explain who is affected, the risks and what to do about it).
+* Daniel Lehnberg, daniel.lehnberg at protonmail.com [PGP key](https://github.com/mimblewimble/grin-security/blob/master/keys/lehnberg.asc)
+* hashmap, hashmap.dev at protonmail.com [PGP key](https://github.com/mimblewimble/grin-security/blob/master/keys/hashmap.asc)
+* John Woeltz, joltz at protonmail.com [PGP key](https://github.com/mimblewimble/grin-security/blob/master/keys/j01tz.asc)
 
-_Note: Before Grin mainnet is released, we will be taking some liberty in applying the above steps, notably in issuing a CVE and upgrades._
+Send all communications PGP encrypted to all parties.
+
+## Sending Disclosures
+
+In the case where we become aware of security issues affecting other projects
+that has never affected Grin, our intention is to inform those projects of
+security issues on a best effort basis.
+
+In the case where we fix a security issue in Grin that also affects the
+following neighboring projects, our intention is to engage in responsible
+disclosures with them as described in the adopted
+[standard](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#a-standard-for-responsible-disclosure-in-cryptocurrency-and-related-software),
+subject to the deviations described in the
+[deviations section](#deviations-from-the-standard) of this document.
+
+## Bilateral Responsible Disclosure Agreements
+
+_Grin does not currently have any established bilateral disclosure agreements._
 
 ## Recognition and Bug Bounties
 
-As of this writing, Grin is a **traditional open source project** with limited to no direct funding. As such, we have little means with which to compensate  security researchers for their contributions. We recognize this is a shame and intend to do our best to still make these worth while by:
+Grin's responsible disclosure standard includes some general language about
+[Bounty Payments](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#bounty-payments)
+and [Acknowledgements](https://github.com/RD-Crypto-Spec/Responsible-Disclosure/tree/82e08d2736ea9dbe43484a3317e4bce214163bd0#acknowledgements).
 
-* Advertising the vulnerability, the researchers, or their team on a public page linked from our website, with a links of their choosing.
+Grin is a **traditional open source project with limited to no direct funding**.
+As such, we have little means with which to compensate security researchers for
+their contributions. We recognize this is a shame and intend to do our best to
+still make these worth while by:
+
+* Advertising the vulnerability, the researchers, or their team on a public
+page linked from our website, with a links of their choosing.
 * Acting as reference whenever this is needed.
 * Setting up retroactive bounties whenever possible.
 
-It is our hope that after mainnet release, participants in the ecosystem will be willing to more widely donate to benefit the further development of Grin. When this is the case we will:
+There is not currently a formal bug bounty program for Grin as it would require
+a high level of resources and engagement to operate in good faith. More
+[funding](https://grin-tech.org/funding) can help provide the necessary
+resources to run one in the future for the Grin community.
 
-* Setup a bounty program.
-* Decide on the amounts rewarded based on available funds and CVVS score.
+## Deviations from the Standard
 
-## Code Reviews and Audits
+Grin is a technology that provides strong privacy with zero-knowledge
+commitments and rangeproofs. Due to the nature of the cryptography used, if a
+counterfeiting bug results it could be exploited without a way to identify
+which data was corrupted. This renders rollbacks or other fork-based attempted
+fixes ineffective.
 
-While we intend to undergo more formal audits before release, continued code reviews and audits are required for security. As such, we encourage interested security researchers to:
+The standard describes reporters of vulnerabilities including full details of
+an issue, in order to reproduce it. This is necessary for instance in the case
+of an external researcher both demonstrating and proving that there really is a
+security issue, and that security issue really has the impact that they say it
+has - allowing the development team to accurately prioritize and resolve the issue.
 
-* Review our code, even if no contributions are planned.
-* Publish their findings whichever way they choose, even if no particular bug or vulnerability was found. We can all learn from new sets of eyes and benefit from increased scrutiny.
-* Audit the project publicly. While we may disagree with some small points of design or trade-offs, we will always do so respectfully.
+In the case of a counterfeiting or privacy-breaking bug, however, we might decide
+not to include those details with our reports to partners ahead of coordinated
+release, so long as we are sure that they are vulnerable.
 
-## Chain Splits
+## More Information
 
-The Grin Team runs a chain split monitoring tool at (TBD). It is encouraged to monitor it regularly and setup alerts. In case of an accidental chain split:
-
-* Exchanges and merchants should either cease operation or extend considerably confirmation delays.
-* Miners and mining pools should immediately consult with Grin's development team on regular channels (Grin's Gitter mainly) to diagnose the split and determine a course of events.
-* In the likely event of an emergency software patch, all actors should upgrade as soon as possible.
-
-## Useful References
-
-* [Reducing the Risks of Catastrophic Cryptocurrency Bugs](https://medium.com/mit-media-lab-digital-currency-initiative/reducing-the-risk-of-catastrophic-cryptocurrency-bugs-dcdd493c7569)
-* [Security Process for Open Source Projects](https://alexgaynor.net/2013/oct/19/security-process-open-source-projects/)
-* [Choose-Your-Own-Security-Disclosure-Adventure](http://hackingdistributed.com/2018/05/30/choose-your-own-security-disclosure-adventure/)
-* [CVE HOWTO](https://github.com/RedHatProductSecurity/CVE-HOWTO)
-* [National Vulnerability Database](https://nvd.nist.gov/)
-
-## Public Keys
-
-### Daniel Lehnberg
-```
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-
-```
-### Ignotus Peverell
-```
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-=xdp/
------END PGP PUBLIC KEY BLOCK-----
-```
-### hashmap
-```
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-=/+Vo
------END PGP PUBLIC KEY BLOCK-----
-```
-### John Woeltz
-```
------BEGIN PGP PUBLIC KEY BLOCK-----
-
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-=BniA
------END PGP PUBLIC KEY BLOCK-----
-```
+Additional security-related information about the Grin project including previous
+audits, CVEs, canaries, signatures and PGP public keys can be found in the
+[grin-security](https://github.com/mimblewimble/grin-security) repository.