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Anyone else seeing increased KYB friction with new PSPs?
Starting to onboard a new payment service provider for crypto payouts and the Know Your Business process feels like it's getting more intricate than even a few years ago. Documentation requests are much more granular, especially around source of funds and beneficial ownership, even for established entities. Wondering if this is a general trend or just my experience with particular regional providers.
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Definitely not just you. Seeing the same thing across the board with new and even existing PSPs, particularly around UBO and source of wealth. Regulators are definitely tightening the screws.