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

top 13 comments

sorted by: hot top controversial new old

[–] [email protected] 11 points 3 months ago (1 children)

Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home

[–] [email protected] 8 points 3 months ago (1 children)

Postponed not beat. They gonna wait till something like 911 then rush it through.

[–] [email protected] 3 points 3 months ago

agenda 2030 very right so!

[–] [email protected] 9 points 3 months ago

Government: Only criminals use cash and crypto! Privacy advocates: Actually, this is not true... Government: makes cash and crypto illegal what do you say now, punks?

[–] [email protected] 6 points 3 months ago (1 children)

This is where open block chains fail. A good open block chain won't disallow the transaction, but since it is open, the owner of the wallet can be fined or jailed after the fact. Coinjoins don't work since they depend on most people doing it, most people not being KYCed, and most people not making a mistake that would cause them to be KYCed. This just doesn't happen. Breaking a transaction up into several transactions just under the limit makes you more of a target since it's obvious what you're doing. By all means, try to defeat this measure politically and form common cause with the cash/gold/silver bros, but recognise that even if you win, we're only one 9-11 or COVID-19-like crisis away from losing. The only real solution are private block chains like Monero and non-cash unit of accounts like gold, silver, rice, dried beans, or outright barter.

[–] Knock_Knock_Lemmy_In 1 points 3 months ago

This is where open block chains fail.

Value will move to ZK layers and assets being transferred rather than cash.

[–] [email protected] 4 points 3 months ago* (last edited 3 months ago) (2 children)

they're going one step at a time towards their goal : cashless CBDC society. watch them shrink the legal cash payment amount more and more from there

[–] [email protected] 5 points 3 months ago

@nihilist @makeasnek Monero is the world's emergency safety valve against overzealous governments

[–] [email protected] 1 points 3 months ago (1 children)

What they want is use Ethereum and Bitcoin as store of value and cash with CBDC.

[–] [email protected] 2 points 3 months ago

dont forget stablecoins

[–] [email protected] 1 points 3 months ago

Big news

[–] [email protected] 0 points 3 months ago (1 children)

They also point out that cryptocurrency is affected.

Only custodial wallets.

[–] [email protected] 4 points 3 months ago

First they came for the custodial wallets