{"id":440633,"date":"2022-05-02T13:05:28","date_gmt":"2022-05-02T10:05:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/indian-it-ministry-directs-crypto-exchanges-to-store-user-data-for-5-years\/"},"modified":"2022-05-02T13:05:28","modified_gmt":"2022-05-02T10:05:28","slug":"indian-it-ministry-directs-crypto-exchanges-to-store-user-data-for-5-years","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/indian-it-ministry-directs-crypto-exchanges-to-store-user-data-for-5-years\/","title":{"rendered":"# Indian IT Ministry directs crypto exchanges to store user data for 5 years"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a243bfae6485\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a243bfae6485\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/indian-it-ministry-directs-crypto-exchanges-to-store-user-data-for-5-years\/#%E2%80%9D_Indian_IT_Ministry_directs_crypto_exchanges_to_store_user_data_for_5_years_%E2%80%9C\" >&#8221; Indian IT Ministry directs crypto exchanges to store user data for 5 years  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Indian_IT_Ministry_directs_crypto_exchanges_to_store_user_data_for_5_years_%E2%80%9C\"><\/span>&#8221; Indian IT Ministry directs crypto exchanges to store user data for 5 years  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvYmZiMjVkYzktYjVhOS00OTk5LTkxN2ItYTFlNjdmNzM3ZjY4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Indian Computer Emergency Response Team (CERT-in), which falls under the Ministry of Electronics and Information <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a>, issued a new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/web.archive.org\/web\/20220429055040\/https:\/\/www.cert-in.org.in\/PDF\/CERT-In_Directions_70B_28.04.2022.pdf\">directive <\/a>on Thursday, forcing crypto exchanges, virtual private network (VPN) providers and data centers to store a wide range of user data for up to five years.<\/p>\n<p>Under the newly issued directive, crypto exchanges operating in India will be required to store customers\u2019 names, ownership patterns, contact information and various other data. <\/p>\n<p>Crypto exchanges and VPN services providers are also required to report any cyber incident within six hours of its occurrence and must hand over the collected data to the authorities upon order. The official directive read:<\/p>\n<blockquote><p>\u201cWhen required by order\/direction of CERT-In, for the purposes of cyber incident response, protective and preventive actions related to cyber incidents, the service provider\/inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ry\/data center\/body corporate is mandated to take action or provide information or any such assistance to CERT-In.\u201d<\/p><\/blockquote>\n<p>The new directives will come into force on June 22, which may force many VPN service providers and privacy-focused crypto platforms that don\u2019t collect or store critical user data to shut their operations.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Brain drain: India\u2019s crypto tax forces budding crypto projects to move<\/em><\/strong><\/p>\n<p>CERT-in claims the new directives are intended to help them take action against cyber crimes within six hours, however, the range of data they are asking platforms to store and hand over has raised eyebrows owing to privacy concerns among users. One user <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RameshBandrana\/status\/1521058985100464128?s=20&amp;t=oC5gDtSeK5u4lY6OoiFM-g\">wrote<\/a>:<\/p>\n<blockquote><p>&#8220;Our government wants to control the private life of the people and our constitution does not allow this, but to be honest no one in India is much conscious about personal data.&#8221;<\/p><\/blockquote>\n<p>However, some crypto exchange owners welcomed the step, saying it will help prosecute tax evaders. Unocoin CEO\u00a0Sathvik Vishwanath told Cointelegraph:<\/p>\n<blockquote><p>\u201cThis is a good move and helping crypto players to have clarity about the data that they would be storing. The data would help prosecute tax evaders and any crimes h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening using crypto.\u201d<\/p><\/blockquote>\n<p>At this point, it is not clear whether the new rules would be applicable to crypto exchanges&#8217; operating in India only or to foreign exchanges offering their services to Indians as well. However, looking at the earlier crypto directives, it could well be applicable to all the platforms.<\/p>\n<p>The new data collection directives come at a time when the regressive crypto tax policy in the country has already led to a steep decline in trading volume and user activity on Indian crypto exchanges.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/indian-it-ministry-directs-crypto-exchanges-to-store-user-data-for-5-years\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Indian IT Ministry directs crypto exchanges to store user data for 5 years &#8220; The Indian Computer Emergency Response Team (CERT-in), which falls under the Ministry of Electronics and Information Technology, issued a new directive on Thursday, forcing crypto exchanges, virtual private network (VPN) providers and data centers to store a wide range of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":440634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvYmZiMjVkYzktYjVhOS00OTk5LTkxN2ItYTFlNjdmNzM3ZjY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,74877,77310,90774,17318,70934],"class_list":["post-440633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-decentralized-exchange","tag-indian-crypto","tag-indian-government","tag-india","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/440633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=440633"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/440633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/440634"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=440633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=440633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=440633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}