PANews reported on April 15th that, according to a post by crypto KOL AB Kuai.Dong, based on widespread community feedback, those who registered for U-cards with their passports last year have generally received a CRS filing notification from Fiat24, the upstream issuer of U-cards, in the past two days. The email states that, according to the new regulatory requirements CRS/DAC8, all financial platforms are required to collect users' tax residency information, and failure to do so may result in account restrictions. Currently, this only applies to U-cards issued by Fiat24.

Additional information: CRS is a cross-border tax information exchange, and China is a member country.