India obliges crypto exchanges to store user data for 5 years
The Indian Computer Emergency Response Team (CERT-in), run by the Ministry of Electronics and Information Technology, issued a directive requiring crypto exchanges, VPN providers and data centers to store user data for up to five years.
Thus, crypto exchanges operating in India will need to store customers’ names, ownership patterns, contact information, and various other data.
Crypto exchanges and VPN service providers are also required to report any cyber incident within six hours of its occurrence and must forward the collected data to the authorities upon order.
It is still unclear whether the new rules will apply to crypto exchanges operating in India only, or to foreign exchanges offering their services to Indians.
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