Iran to Establish Centralized KYC System

Iran’s High Council of Cyberspace ratified a document on the establishment of an online user authentication system late Saturday.
During a council meeting attended by President Hassan Rouhani, a document was ratified for the development of a system that would be akin to a centralized know your customer (KYC) system.
According to President.ir, the system will make online transactions more secure and help businesses and users conduct communications after both sides are authenticated.
Measures for protecting users’ privacy and business data were also discussed.