- cross-posted to:
- [email protected]
You must log in or # to comment.
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’.
I’m not saying these rules are perfect, but it doesn’t help if you argue against rules that don’t exist.
Commercial transactions are not “all” tx, and above 3000€ are obviously not the most common tx.
I do think the crypto restriction with no lower limit is too much, and I don’t get why they focus on custodial wallets, but it’s again not “all” tx.
Why does the government …
Money laundering, tax evasion and corruption are real crimes with real consequences, and knowing about the flow of money is pretty much required to be able to detect them. It’s a trade-off with privacy, so imo setting some limit for anonymous payments is the right thing to do. Idk if 3000€ is perfect, but it does seem reasonable.
Police have more surveillance and crime-detecting tools …
We need some amount of oversight and surveillance, so imo it’s not good enough to just exaggerate every proposal to the extreme and reject it on those grounds. These rules are not a total crackdown on anonymous payments, but they might still be too restrictive. But you kill every discussion about that if you just make up different rules entirely, instead of arguing about the rules that were actually adopted.
so any business which accept crypto must KYC every one of their customers
No, any business must use a KYC custodian for their wallets. I don’t think they’ll need to KYC their customers, they’ll just need to account for those transactions in their accounting.
So if the company accepts Monero, the Monero wallet would need to be with a custodian, but you’d be free to use Monero to buy stuff and remain anonymous. At least that’s my read.
Removed by mod
And these limits will be tied to inflation?
Removed by mod
OP, your post is a mess.
- It’s not “total monetary surveillance,” it’s limited to cryptocurrency and high (>$11,000) cash payments.
- You shouldn’t encourage people to contact the EU before showing them what’s actually happening
- Your Snort post doesn’t work on my browser and it’s a pretty bad social network anyway.
For people who are looking for actual info:
https://www.dw.com/en/eu-seeks-cash-payment-limit-tougher-money-laundering-rules/a-68024075
https://finbold.com/anonymous-crypto-wallets-now-illegal-in-the-eu/
Or the source OP was using:
(ETA better info and links)
why would someone limit me how I can spend my earned and 40% already taxed (taken) money? I gave my life time to earn it, they take half of it and still forbidding me to use it?
Hiding money in anonymous crypto is a way to avoid paying taxes or launder money.
Trump made crypto trading cards so Russia and Saudi Arabia could contribute to him anonymously.
Source?
So if that is a problem, focus and investigate, why I have to do anything with that? And that is US, this is EU.
Three easy payments of $999.99!
I think people should create new and stronger communities to fight stuff like that
Topics, groups, etc, where people discuss and organize system fighting
It’s OK to be an outlaw.
Anybody who defends these actions by the EU is a poopy face
that nostr link doesn’t load for me but this is the url that the post in the screenshot is ultimately linking to: https://www.patrick-breyer.de/en/eu-cash-cap-and-ban-on-anonymous-crypto-payments-results-in-financial-paternalism/
Grab #Monero
So that you can’t sell later ?
Yeah, lose all your money so you don’t have to worry about it being surveilled!
Monero is like an unregulated stock. If you want to use it for a purchase, you want to wait until as late as possible to actually purchase any.
A better strategy for staying private would just be hoarding money under your bed.
all Im thinking of is how payment processors have been acting as legislators lately to outlaw porn.
deleted by creator
Would it make sense to have #CashAwarenessMonth? https://lemmy.ml/post/7968927
creepy
Are you seriously suggesting me to contact my MEP based on the clickbait title you’ve written? Wow.
So a ban on crypto and CCP like control over all finances?
Pretty sure corruption isn’t using wire transfer 🫢 Comes in physical form that can’t be tracked
