cross-posted from: https://slrpnk.net/post/11683880
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
Anti-money laundering provisions in the EU have been adjusted several times though, so there’s a precedent.
It’s impossible to define the amount in relative terms such as “average EU monthly salary +25%”, because that would simply make it impractical in everyday use when the amount changes every month.
Anti-money laundering provisions in the EU have been adjusted several times though
Adjusted to give more leeway? Can you cite a source on this happening
It’s impossible to define the amount in relative terms such as “average EU monthly salary +25%”,
It’s not impossible. Indexes are published. This is what they do with rent in places where rent is controlled. Landlords cannot increase rent more than an index. So they have to do the math. And in this case it’s not even a variable baseline like rent, it’s fixed, so the calculation can also be published so people need not do any math.
