Clickbait headline. The underlying article lists much more reasonable restrictions:
- Anonymous cash payments over €3,000 will be banned in commercial transactions
- Cash payments over €10,000 will even be completely banned in business transactions
- Anonymous payments in cryptocurrencies to wallets operated by providers will be prohibited
So non-commercial transations are fine, as are crypto transactions to non-custodial wallets.
Commercial transactions -
Aaah, the kind of transaction that most transactions are?
Operated by providers
Aah, so any business which accept crypto must KYC every one of their customers. This makes accepting crypto especially burdensome, which is half the point of this legislation in the first place.
So non-commercial transations are fine, as are crypto transactions to non-custodial wallets.
Unless you’re using the wallet to buy or sell something. You know, the thing people use money for.
Why does the government need to have every transaction reported to them? Crime is bad because it causes harm. If harm is being caused, that means a person or entity is causing that harm. That means there is evidence. Follow that.
Police have more surveillance and crime-detecting tools than at any point in human history. Nearly every category of crime, particularly violent crime, is on a decades-long downtrend. We all travel with GPS monitors in our pockets. We all use credit cards instead of cash. We all are recorded by CCTV 90% of the places we go. We don’t need to give them more financial surveillance because ‘crime’.
sorry but banning anonymous payments is pretty good for fighting corruption…
Corrupt politicians can simply ignore the law. If they didn’t ignore it, they wouldn’t be very corrupt.
Yes, but now there’s an explicit law over which they can be prosecuted
