For example, the data rates of modern residential high-speed Internet connections are commonly expressed in megabits per second (Mbit/s).
The binary prefixes were introduced in 1998 by the International Electrotechnical Commission (IEC) and in IEEE 1541-2002 which was reaffirmed on 27 March 2008.
The letter K is often used as a non-standard abbreviation for 1,024, especially in "KB" to mean KiB, the kilobyte in its binary sense.
In the context of data rates, however, typically only decimal prefixes are used, and they have their standard SI interpretation.
This standard, approved in 1998, introduced the prefixes kibi-, mebi-, gibi-, tebi-, pebi-, and exbi- to be used in specifying binary multiples of a quantity.