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EU Parliament commitee approves cash cap and ban on anonymous crypto payments
21–30 of 83 posts
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#22Note that this is a committee approval, not a final parliament approval And yes the limit on 3k/10k seems low
Any amount that doesn't change with annual inflation is too low. Without factoring that in it's an expiry date without saying it out loud.
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#23> 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. And anonymous payments in cryptocurrencies to wallets operated by providers (hosted wallets) will be prohibited even for minimum amounts without a threshold. For the regular person, there is no issue here. Cash is still fine, anonymous payments are possib…
> Anonymous online / digital payments seems to exclusively facilitate crime, but doesn’t seem to be relevant to regular ‘normal’ people.
How so and is there anything to back that up or is that just a gut feeling?
I pay for my VPN subscription online, anonymously using crypto. Am I facilitating crime?
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#24The cash limit now is like 5k euros. It sucks but the new cap is outrageous.
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#25Democracy: our most sacred institution. Anyone suggesting otherwise is {one element from the set of subconsciously planted memes}.
Will humans ever learn? All evidence I've seen is that they are determined to not.
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#26Generally prohibiting anonymous payments would at best have minimal effects on crime, but it would deprive innocent citizens of their financial freedom. The medicines or sex toys I buy is nobody’s business
The consequences of KYC are way worse than that. You have to interact with someone in power when you make a payment, thats the bad part. Cause that someone now have a good occasion to hurt you (racism, discrimination, political opposition, wars, etc).
Im speaking from experience here. Moreover the rich and powerful makes payments the way they want lets not fool ourselves.
Now granted they catch some dirty shit with KYC but we'd like to see some report on the extent of that at least.
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#27[deleted]
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#28> 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. And anonymous payments in cryptocurrencies to wallets operated by providers (hosted wallets) will be prohibited even for minimum amounts without a threshold. For the regular person, there is no issue here. Cash is still fine, anonymous payments are possib…
What if payment processors don't like what you want to sell, even when it is legal?
Tough luck. Doesn’t justify a huge avenue of money laundering of whatever is possible
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#29> 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. And anonymous payments in cryptocurrencies to wallets operated by providers (hosted wallets) will be prohibited even for minimum amounts without a threshold. For the regular person, there is no issue here. Cash is still fine, anonymous payments are possib…
> Anonymous online / digital payments seems to exclusively facilitate crime, but doesn’t seem to be relevant to regular ‘normal’ people. How so and is there anything to back that up or is that just a gut feeling? I pay for my VPN subscription online, anonymously using crypto. Am I facilitating crime?
> I pay for my VPN subscription online, anonymously using crypto. Am I facilitating crime?
No, and you'll continue to be able to do so under the new regulation unless I'm missing something.
Re: EU Parliament commitee approves cash cap and ban on anonymous crypto payments
#30> 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. And anonymous payments in cryptocurrencies to wallets operated by providers (hosted wallets) will be prohibited even for minimum amounts without a threshold. For the regular person, there is no issue here. Cash is still fine, anonymous payments are possib…
One issue I know that drives many NSFW artists to crypto payments is that things like paypal won't service them.
Sure that’s a problem for them, but rather niche and doesn’t seem to justify this huge avenue for “crime”