The PEP list is mostly for actual politicians, their spouses and people like senior judges etc. There is a higher risk of bribery and corruption with these people (the people with power tend to be the ones that get bribed).
If you get on the list, it means extra due-diligence for anti-money laundering and corruption checks. I guess some accountants etc might not want to deal with the extra work.
This rule (at least in the UK) was approved by politicians themselves.
What is possibly more arbitrary is debanking people for their political opinions due to "reputational risk" which happened to Nigel Farage in the UK and is done on the regular by PayPal.
I guess some institutions might not want to have you as a customer if you're source of income is crypto as it's difficult to know the ultimate source of those funds.
If you get on the list, it means extra due-diligence for anti-money laundering and corruption checks. I guess some accountants etc might not want to deal with the extra work.
This rule (at least in the UK) was approved by politicians themselves.
https://www.lawsociety.org.uk/topics/anti-money-laundering/p...
What is possibly more arbitrary is debanking people for their political opinions due to "reputational risk" which happened to Nigel Farage in the UK and is done on the regular by PayPal.
I guess some institutions might not want to have you as a customer if you're source of income is crypto as it's difficult to know the ultimate source of those funds.
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