Polygon Takes Considerable Scrutiny Measures, Requests KYC Details To Conduct Funding
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Polygon is currently implementing stricter customer information for all potential collaborations for legal entities resident in India as the country’s regulatory scrutiny increases.
According to an individual with valid information on the matter, the Layer 2 (L2) side chain now demands thorough Know Your Customer (KYC) information. He explained that Polygon is now enforcing this for all possible investments, grants, funding, or financial assistance to Indian partners.
Polygon, which runs on the Ethereum blockchain, has been implementing strict KYC follow-ups in seeking extreme compliance with Indian regulators. According to the source, the side chain will not provide any funding or financial support to any individual or legal entity that doesn’t offer their complete KYC information.
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