MeitY likely to support A graded KYC approach in online gaming regulations

Popular

MeitY likely to support A graded KYC approach in online gaming regulations

The Ministry of Electronics and Information Technology (MeitY) is expected to accept the demand of gaming platforms for a graded approach to know your customer as part of its efforts to regulate the country’s online gaming space (KYC).

According to Business Standard, a number of gaming platforms have demanded that users be allowed to register using a one-time password and a self-declaration of name and identification number of any’mandatory document’ for small deposits of up to INR 10,000. For a full KYC, gaming platforms will need to develop mechanisms such as a video-based customer identification process. As a result, many platforms have asked for a waiver of this requirement for small deposit amounts, according to the report.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

Popular

More Like this

The Ministry of Electronics and Information Technology (MeitY) is expected to accept the demand of gaming platforms for a graded approach to know your customer as part of its efforts to regulate the country’s online gaming space (KYC).

According to Business Standard, a number of gaming platforms have demanded that users be allowed to register using a one-time password and a self-declaration of name and identification number of any’mandatory document’ for small deposits of up to INR 10,000. For a full KYC, gaming platforms will need to develop mechanisms such as a video-based customer identification process. As a result, many platforms have asked for a waiver of this requirement for small deposit amounts, according to the report.

Disclaimer

At StartupNews.fyi we strive to uphold the highest ethical standards in all of our reporting and coverage. We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

More like this

Delhi HC summoned BharatPe’s Ex-MD Ashneer Grover & barred him from creating any third-party rights over shares

Fintech startup BharatPe’s former managing director has been summoned...

Snap Inc. quietly acquired 3D-scanning startup Th3rd

Snap Inc., the parent company of popular social media...

Twitter Blue relaunched has made $11 million on mobile in its first 3 months

Twitter Blue, the subscription service launched by the social...

Upcoming Events

Startup Information that matters. Get in your inbox Daily!

spot_img
spot_img
Copy link
Powered by Social Snap