cross-posted from: https://slrpnk.net/post/11683421
The EU has quietly imposed cash limits EU-wide:
- €3k limit on anonymous payments
- €10k limit regardless (link which also lists state-by-state limits).
From the jailed¹ article:
An EU-wide maximum limit of €10 000 is set for cash payments, which will make it harder for criminals to launder dirty money.
It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!
In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3 000 and €10 000.
The hunt for “money launderers” and “terrorists” is not likely meaningfully facilitated by depriving the privacy of people involved in small €3k transactions. It’s a bogus excuse for empowering a police surveillance state. It’s a shame how quietly this apparently happened. No news or chatter about it.
¹ the EU’s own website is an exclusive privacy-abusing Cloudflare site inaccessible several demographics of people. Sad that we need to rely on the website of a US library to get equitable access to official EU communication.
update
The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected. Which in the end amounts to forced banking.
#warOnCash
I wasn’t talking about war on drugs, those should be decriminalized anyway.
What I keep seeing in my personal life is car repair shops, medical professionals and other businesses that usually charge a lot and then take cash only. It’s obvious why.
Tax evasion is a thing, yes. But it’s also relatively easy to prosecute by auditing.
Money laundering requires a source of illegal money. And, what you may not realize, money laundering schemes always pay tax. They actually overpay taxes by faking non-existent economic activity in order to make the illegal money legal.
Take away the source of illegal money and money laundering disappears.
How are you going to audit cashless businesses that invoice one price and take another and how much is that going to cost? We’re talking about likely widespread issue that needs solving systemically, not with adhoc actions.
Dude, tax collection has been optimized for hundreds of years before we even had electronic money.
They even got Al Capone.
Money laundering is the opposite of tax evasion. If you don’t understand that those two things are not the same, then I can’t really help you.
What I keep seeing in my personal life is car repair shops, medical professionals and other businesses that usually charge a lot and then take cash only.
Belgium solved that last year by simply forcing all traders to accept electronic payment (in addition to cash). They cannot refuse electronic payment.
It’s an EU-wide thing now I think. Our car shops just say they can lower the price significantly if you pay by cash. Others just play dumb.
Our car shops just say they can lower the price significantly if you pay by cash.
Rightfully so. When telecoms and train travel vendors give discounts for paying online, it rewards consumers who are on the unethical side of the #warOnCash and rewards discrimination against the unbanked and punishes the poor. The elitist idea of discounting electronic payment harms everyone by promoting Bill Gates’ war on cash. Visa’s $10k incentive for merchants to refuse cash rewards the practice of excluding people and attacks privacy and autonomy. Whereas cash discounts encourage consumers to carry cash and to use it to support a system of inclusion, which is needed to show merchants on the edge of introducing exclusion that cash acceptance is important.
