Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

EU-wide maximum limit of €10K for cash payments

consilium.europa.eu

Post reply on HN
Print view View original

831–840 of 915 posts

Re: EU-wide maximum limit of €10K for cash payments

#831

Post by pier25 »

olivermarks wrote: post #253

'By limiting large cash payments, the EU will make it harder for criminals to launder dirty money. ' Bizarre how the EU is penalizing everyone in order to 'make it harder for criminals to launder dirty money'. People pay taxes in order to have their bureaucrats serve them by creating a safe financial and social environment, not to have them assume everyone is a criminal/terrorist and greatly impede access to their as…

Everyone?

People that legitimately need to make cash payments for more than 10k represent probably less than 1% of the population. And I'd be surprised even most people that can do it would do it.

Re: EU-wide maximum limit of €10K for cash payments

#832

Post by hypertele-Xii »

pclmulqdq wrote: post #817
thiht wrote: post #807

Earlier quoted context omitted.

> Uniquely, GDPR goes a step further and tries to impose this burden on everyone in the world, not just people and companies that have signed up for the European project. This is precious! The US has imposed their views on the internet for the past 30 years. How is GDPR unique? The difference is once again that GDPR is favorable to EU citizens (because yeah, GDPR only applies to EU citizens) and your laws (Cloud Act,…

In the case of the cudgel that is the GDPR, distinct from EVERY other data governance rule, there are two unique things: 1. It applies to everyone, with no thought of company residency or size. 2. It applies to all forms of "personal information" and "processing," defined ridiculously broadly. This means that the following things are technically illegal by the text of the law: * Storing the email address of an EU-bas…

Yes, of course they should be illegal. Why should US companies have the right to harvest our private information for profit and cause damage by mishandling it without oversight?

Re: EU-wide maximum limit of €10K for cash payments

#833

Post by rosnd »

thiht wrote: post #722
rosnd wrote: post #666

Earlier quoted context omitted.

The seller claims they don't see the transfer on their end, who keeps the car? Buying a car with a bank transfer is a great way to get scammed by someone selling the same car multiple times.

You give your bag of money to the seller. They take it and leave with the car. What do you do?

Do you not think that straight up robbing somebody requires a different level of commitment than fraud?

The guy using a fake app to pretend that they didn't receive a wire transfer isn't going to end up in a fight, the guy robbing someone of their cash might.

Not only that, bank transfers do not protect you from robbery. You can be forced to make a wire transfer, just as you can be forced to hand over cash.

Re: EU-wide maximum limit of €10K for cash payments

#834

Post by WesolyKubeczek »

martin8412 wrote: post #769
WesolyKubeczek wrote: post #718

Earlier quoted context omitted.

Just paid a multiple of €1000 to a contractor for building me a shed. So?

Yea.. I'm sure he'll remember to report that money to the tax authorities.

Thankfully, it’s his problem, not mine.

Re: EU-wide maximum limit of €10K for cash payments

#835

Post by chupasaurus »

lilsoso wrote: post #660
chupasaurus wrote: post #378

Earlier quoted context omitted.

> our own separate payment networks called Maestro You mean Mastercard's brand?

Yes, technically. But you won't be able to use an American Mastercard. Maestro is a debit card, generally it will look like this: https://www.abnamro.com/en/news/pin-needed-less-often-when-m... . I've never seen it in the US.

I haven't seen Maestro-exclusive terminals for 10 years, at least with support of Mastercard, but the survivorship bias is hard because my country was a playground for all new tech of both Visa and MC.

Re: EU-wide maximum limit of €10K for cash payments

#836

Post by vageli »

UncleEntity wrote: post #155
peoplefromibiza wrote: post #132

Earlier quoted context omitted.

> a non-directly elected entity The EU Parliament is composed of 705 members (MEPs). It represents the second-largest democratic electorate in the world (after the Parliament of India), with an electorate of 375 million eligible voters p.s. even the US president is a non-directly elected entity

The US president doesn’t write laws though. Ignoring executive orders, of course. The people who do write the laws are directly elected at all levels of government.

Pedantically, in the US, laws are also "written" by court precedent. Consider that prohibition was performed via a constitutional amendment yet drugs are criminalized today without amendment by the controlled substances act, itself allowed to exist due to the expansion of the commerce clause (see Gonzales v. Raich 2005). [0]

While judges in some places are directly elected, at the federal level they are not. Beyond that, enforcement of laws is at the prerogative of the executive. If the laws written by directly elected officials are ignored, that is making law as well in some sense. For instance, marijuana remains illegal at the federal level, but the laws are unenforced and states are legalizing it themselves (contravening federal law).

[0]: https://www.law.cornell.edu/supct/html/03-1454.ZS.html

Re: EU-wide maximum limit of €10K for cash payments

#837

Post by ashwagary »

Quarrelsome wrote: post #387
AHappyCamper wrote: post #225

This is obviously the first part of a major push to force us to use Central Bank Digital Currencies. Now that they are banning cash, we will be controlled like never before. This is the beginning of the end of freedom.

> Now that they are banning cash You're talking as if introducing a nationwide speed limit is equivalent to banning cars. The regulation of a given operation is not akin to outright banning it and to assert that is hyperbole.

Remember about 10 years ago when Cyprus started confiscating money held in bank accounts to settle debts and the people holding cash kept their money because it was physically in their possession and harder to confiscate?

Remember earlier this year when people in Lebanon had to hold bank managers at gun point to try and withdraw money from their own accounts as the economy collapsed?

The "CaSH hAZ nO PuRpOSe eXCePt fOR cRImE" people in this comment section have massive blind spots. I'm not surprised politicians are taking advantage of it.

Re: EU-wide maximum limit of €10K for cash payments

#838

Post by ashwagary »

B8MGHCBekDuRi wrote: post #796
ssss11 wrote: post #408

Earlier quoted context omitted.

This approach of treating everyone like criminals is pervasive in current times. Look at all the cameras on the streets. The logging of all internet data. The CSAM crap on iPhones. Even security scanners in retail which have been around at least 20 years. It’s the easy way out imo, instead of employing expensive labour to actually catch criminals, and somehow society has been convinced that it’s ok. I do think it’s a…

> This approach of treating everyone like criminals is pervasive in current times if you usually keep 10k of cash in your pocket, you're probably someone who's not scared by criminals. And I only know two types of people with those characteristics: corrupted cops and other criminals. EDIT: it is actually 3 kinds, the third one being taxi drivers, which in my country are mostly low-level criminals.

Remember about 10 years ago when Cyprus started confiscating money held in private bank accounts to settle government debts and the people holding cash kept their money because it was physically in their possession and harder to confiscate?

Remember earlier this year when people in Lebanon had to hold bank managers at gun point to try and withdraw money from their own accounts so they could buy basic goods as the economy collapsed?

The "CaSh hAZ nO PuRpOSe eXCePt fOR cRImE" crowd in this comment section have massive blind spots due to a general ignorance of monetary history. I'm not surprised politicians are laughing while taking advantage of it.

Re: EU-wide maximum limit of €10K for cash payments

#839

Post by pclmulqdq »

hypertele-Xii wrote: post #832
pclmulqdq wrote: post #817

Earlier quoted context omitted.

In the case of the cudgel that is the GDPR, distinct from EVERY other data governance rule, there are two unique things: 1. It applies to everyone, with no thought of company residency or size. 2. It applies to all forms of "personal information" and "processing," defined ridiculously broadly. This means that the following things are technically illegal by the text of the law: * Storing the email address of an EU-bas…

Yes, of course they should be illegal. Why should US companies have the right to harvest our private information for profit and cause damage by mishandling it without oversight?

So sending a single email to a single EU customer from a non-EU server amounts to "harvesting your private information for profit" and merits a $20 million fine?

I have no problem with the GDPR that you wish you had, by the way. My problem is with the one that exists. It neither stops the wholesale harvesting of information nor actually benefits privacy.

Post reply on HN