Quote:
Originally Posted by CrazyMartin
tax residency is confirmed for example by utility bill, or ID card
which was required by paxum, or payoneer to verify these accounts
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No way a utility bill or ID card alone confirm tax residency. It just confirms a mailing address. Other conditions apply and due diligence needs to be conducted. Financial institutions are required to obtain a lot more information from their clients to know where to report accounts to. For small providers like .... etc. this will be so much effort that they will probably be forced to close doors.