U.S. Department of Commerce Proposes a New KYC Rule Applicable to U.S. IaaS Providers  

,

The U.S. Department of Commerce’s Bureau of Industry and Security has proposed a new rule that introduces a new Customer Identification Program (CIP). Similar to a “know your customer” requirement, CIP would require U.S. infrastructure as a service (IaaS) providers and their foreign resellers to verify the identity of their foreign customers and report to the Department of Commerce on the use of their products for large artificial intelligence training. If approved, CIP would create increased compliance costs and risks for U.S. IaaS providers.

Read the full Client Alert

Authors

  • Associate

    Robert focuses on corporate transactional matters and advises clients on technology transactions, da...

  • Member

    Chris enjoys using his prior experience as a software engineer to solve clients' concerns where tech...

Related Posts