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

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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.

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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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi 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.

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