GDPR have huge impact on Crypto Exchanges. Due to easy acceptance and support from local government crypto exchanges across the world are moving towards European Union and as seen in practice exchanges have huge subscriber base thus carry huge PII and SPII information.
It is imperative for exchanges to get their business compliant for GDPR and address data subject rights in correct way through their public platforms . Unlike other social mediums subscribers of Crypto Exchanges spend more time on those apps for trading purpose thus Exchanges who can prove compliance to their users will attract more footfall then others .
It is important for exchanges to understand the implications of GDPR as they use Vendors for certain processes and PI information of their subscribers moves to their vendors as well causing bigger risk of breach in future .
Being controller of their processes it is responsibility of Exchanges to ensure their vendors are also compliant .
The Key Question is ARE YOU READY?
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