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Indian IT Ministry Orders Long Storage of Crypto User Data

 


The Indian Computer Emergency Response Team (CERT-in), an agency affiliated with the Indian Ministry of Electronics and Information Technology, has issued a new directive requiring crypto exchanges, VPN service providers and data centers to collect large amounts of data from crypto users stored for up to five years.


According to the new regulations, Indian crypto exchanges must store the names, addresses, financial status and other information of their users over a longer period of time.


In addition, crypto exchanges and VPN service providers must also report any form of cybercrime within six hours and immediately pass on all stored data to the authorities if ordered to do so. To that end it says:


"If the CERT-In orders the release of this data as a reaction to or to protect against cybercrime, then the respective service provider/intermediary is obliged to comply immediately and to support the CERT-In in their investigations."

The new directive is set to take effect as early as June 22, which could force VPN service providers and privacy-focused cryptocurrency exchanges, both of which by their very nature collect and store relatively little data from their users, to shut down operations.


As the CERT-in states, the new directive should enable faster action against cybercrime. Nonetheless, the amount of data collected and how long it is stored raises privacy concerns for some crypto users :


“Our government wants to control people's private lives, but our constitution actually forbids that. But let's be honest, nobody in India really has data protection on their screens."

The strict regulation on the collection and retention of crypto user data comes at a time when a new tax on cryptocurrencies in India has already seen user activity and trading volumes on the country's platforms noticeably declined.

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