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Every form I see about financial matters here in Italy has a checkbox that I must tick to state I'm not a US person. No financial institution wants to deal with them because of FACTA. An unintended consequence for sure and I hope they'll fix it. Still it's telling about the general attitude of lawmakers all around the world.


Right. Imagine if every financial form had 200 extra checkboxes -- dictated by the Mongolian Treasury, the Namibian Treasury, etc.

But that's not the case. Only the US imposes financial regulations on every bank in the world.


Well other countries could try, but banks wouldn't really care because of limited exposure and inability for most countries to collect.




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