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U.S. Department of Commerce Publishes Proposed Rule Imposing “Know Your Customer” and Reporting Requirements on U.S. Infrastructure as a Service Providers
The U.S. Department of Commerce (“Commerce”), Bureau of Industry and Security (“BIS”) recently issued a proposed rule aimed at preventing foreign actors from utilizing U.S.
The U.S. Department of Commerce (“Commerce”), Bureau of Industry and Security (“BIS”) recently issued a proposed rule aimed at preventing foreign actors from utilizing U.S. Infrastructure as a Service (“IaaS”) products (i.e., cloud computing services) to engage in malicious cyber-enabled activity, specifically by imposing certain due diligence and reporting requirements on U.S. IaaS providers and their foreign resellers. To guarantee compliance with the proposed rule, Commerce will review all information submitted by U.S. IaaS providers and their related foreign resellers in annual CIP certification forms. The proposed rule’s reporting requirements regarding foreign persons’ use of IaaS products to engage in certain AI training would impose a significant monitoring obligation on providers.
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