News & Media 6th May 2022

Crypto Exchanges Now Required to Store KYC Data for 5 Years. Is it a Yay or Nay from the Industry?

Authors

Vinay Butani Partner | Mumbai

Latest Thought Leadership

Events 12th May 2025

Session on Global Trends in Receivable Assignment and Litigation Funding and Insolvency Professional Oversight | May 16, 2025 | 5.00 PM onwards

Read More
Alerts & Updates 12th May 2025

ELP Update: Conclusion of the India-UK FTA

Read More
Alerts & Updates 12th May 2025

Trade Update – May 12, 2025

Read More
Alerts & Updates 12th May 2025

SEBI’s Consultation Paper proposes a new framework for co-investments and permits investment managers to offer advisory services in listed securities

Read More

In a bid to enhance India’s cyber security and crypto infrastructure, the Indian Computer Emergency Response Team (CERT-in) has mandated all Virtual Private Network (VPN) providers and crypto exchanges to maintain customer data record for up to 5 years. The rules will come into effect in June 2022.

Against this backdrop, Vinay Butani, Partner, Economic Laws Practice (ELP) has been quoted in News18 India in their article titled ‘Crypto Exchanges Now Required to Store KYC Data for 5 Years. Is it a Yay or Nay from the Industry?’. He says, “Whilst at one end this certainly looks like a positive step towards compliance and user safety on the crypto platforms, however, on the other end, this is definitely going to drive up the costs of the exchanges given the additional compliances.”

Click Here

Privacy Policy

As per the rules of the Bar Council of India, lawyers and law firms are not permitted to solicit work or advertise. By clicking on the "I Agree" button, you acknowledge and confirm that you are seeking information relating to Economic Laws Practice (ELP) of your own accord and there has been no advertisement, personal communication, solicitation, invitation or any other inducement of any sort whatsoever by or on behalf of ELP or any of its members to solicit any work through this website.