Some U-card users have received CRS filing notices from Fiat24, requiring them to submit tax information.

CoinFeed 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 reporting synchronization 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. Note: CRS is a cross-border tax information exchange, and its members include China.