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

consilium.europa.eu

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

#771

Post by alphanullmeric »

epolanski wrote: post #644
alphanullmeric wrote: post #536

Quoted post unavailable.

I don't know, as an Italian we have massive issues with tax evasion in Europe, Italy especially. I very welcome limiting cash, I'm sick of paying taxes for all those that don't because they only want cash. This surveillance thing coming from people shoving all their info online seems hugely overblown.

Yes, it is a violation of privacy. Forcing KYC and ID verification is a violation of privacy. Putting trackers on my wallet is a violation of privacy. I love how Europeans are perfectly content making anti encryption arguments when it means they could get more money out of others. The fact that taxes have anything to do this this at all highlights a bigger issue with taxes. Instead of being a fee the government charges for services they offer, they've become some slice of someone else's wallet you vote to be entitled to. You people talk the loudest about paying the fair share and yet are the last to want to do so yourselves.

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

#772

Post by [deleted] »

Teandw wrote: post #581
hartator wrote: post #535

Earlier quoted context omitted.

> Just a bank transfer. Which is not free, anonymous, and require a third party.

It's free in most EU countries. I've never paid for a bank transfer. The third party doing the transaction gives me some protection that I wouldn't otherwise have. Can't argue against the anonymous part of it but when the transaction is between me, the seller and the bank, I'm not sure why it would need to be anonymous.

[deleted]

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

#773

Post by onetokeoverthe »

franey wrote: post #613
xyzzyz wrote: post #606

Earlier quoted context omitted.

Yes, the people with power to declare stuff illegal can always say that whatever you’re doing is illegal before freezing your bank account. Was your comment meant to reassure me?

It wasn't, no. It was meant to clarify for other readers that people didn't have their bank accounts frozen for protesting COVID; they had their bank accounts frozen for financially supporting or participating in an illegal occupation of a city centre. Your point stands that governments/courts decide what is illegal and that they have the power to freeze bank accounts when those accounts are used to fund illegal acti…

No post body was provided.

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

#774

Post by mytailorisrich »

ISL wrote: post #171
mytailorisrich wrote: post #41

Earlier quoted context omitted.

Wouldn't you need to use that $3000 coin to pay $3000, ie use it for its face value, for this loophole to 'work'? In which case it would not be very useful... If you use it to pay $88k then the transaction is obviously $88k although you've then paid in gold, not cash. I feel that this is a "you can't have your cake and eat it too" situation.

It allows you to acquire coins over time, then use them later to move wealth in a less-traceable way.

So you mean buying gold and using gold? That has nothing to do with the 'loophole' previously described.

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

#775

Post by 2000UltraDeluxe »

jfghi wrote: post #557
Teandw wrote: post #553

Earlier quoted context omitted.

Unfortunately we wouldn't move forward as a society if we didn't do things that affected people that didn't want to progress with modern ways of living.

Modern ways of living is more akin to using toilets. Cash isn’t an unnecessary artifact of ancient civilization that impedes progress.

This. There's an energy crisis going on, and as late as a few days ago, Finnish news warned that there's a non-zero chance of rolling two-hour power outages as early as next week. If that happens, cash and paper invoices will be crucial to keep society running properly.

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

#776

Post by SergeAx »

yrgulation wrote: post #757
SergeAx wrote: post #742

Earlier quoted context omitted.

There is significant (up to 9 months, from friends' experience) gap between fleeing to the country and getting legal residency (work permit, visa D, blue card). But even that doesn't make opening bank account much easier, there are banks that doesn't open accounts for holders of Russian passports (or even Russian names, believe me or not). Also, like I said, lots of EU banks froze or restricted accounts of Russian ci…

> Bottom line: it's surprisingly easy to become unbanked in EU. If you move money from a country that threatens europe with nukes. But i see your point. The issue is how can banks separate genuine refugees from people taking advantage of the situation and trying to move illegally acquired money?

Not only Europe, the whole world, but that's not important for the discussion.

There's almost no way just to open account at all, to put some cash there, have a plastic card and use it to buy tickets or pay for Netflix subscription. Moving money is a separate quest, that I can tell from the first hand experience.

I am not saying that banks should have some kind of obligation to open account for everyone. I am just showcasing the importance of cash transactions.

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

#777

Post by Teandw »

t0bia_s wrote: post #728
Teandw wrote: post #576

Earlier quoted context omitted.

Digitizing cash has moved civilization forward in ways we could never have dreamed of.

Why do you need man in middle in your payments?

Having a man in the middle of payments adds more benefits that it does cons.

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

#778

Post by SergeAx »

thdespou wrote: post #759
SergeAx wrote: post #652

Earlier quoted context omitted.

They also have 500 EUR bills there in Europe. 10000 EUR will fit in a postcard envelope.

500 euro bills were scrapped some time ago.

Well, I am holding one in my hands right now, I got it from European bank several days ago.

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

#779

Post by SergeAx »

yrgulation wrote: post #757
SergeAx wrote: post #742

Earlier quoted context omitted.

There is significant (up to 9 months, from friends' experience) gap between fleeing to the country and getting legal residency (work permit, visa D, blue card). But even that doesn't make opening bank account much easier, there are banks that doesn't open accounts for holders of Russian passports (or even Russian names, believe me or not). Also, like I said, lots of EU banks froze or restricted accounts of Russian ci…

> Bottom line: it's surprisingly easy to become unbanked in EU. If you move money from a country that threatens europe with nukes. But i see your point. The issue is how can banks separate genuine refugees from people taking advantage of the situation and trying to move illegally acquired money?

To answer you question, I believe banks have that procedure they called KYC/AML, that's how.

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

#780

Post by Teandw »

SergeAx wrote: post #650
Teandw wrote: post #386

Earlier quoted context omitted.

"Bizarre how the EU is penalizing everyone in order to 'make it harder for criminals to launder dirty money'." This likely affects a number of people that is so small, that it's irrelevant. Not sure it makes sense to say that such a law that effects a tiny number of individuals is penalizing everyone.

> This likely affects a number of people that is so small, that it's irrelevant We as society are spending literally billions to make our cities and infrastructure accessible for people with disabilities. Their number also very small, but we decided it is well relevant.

The percentage of people with mobility disabilities is extremely high.

With medical breakthroughs increasing the age of life too, this is only likely to increase with time

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