Multiple European countries already forbid cash payments over a few thousands euros. In my country the law is just being proposed: anything over 3000€ must be done using electronic systems (read: banks) or you risk getting a fine equivalent to 25% of the amount over the limit.

Am I the only one who find this.. upsetting? It basically means Government will know every money you have owed and spent.

What is the reasoning behind this?

Likely anti money laundering legislation.

Yes, and also tax evasion and fraud.

Fun fact: The SF innovation center of Visa has t-shirts which literally say "The Mark" on them. Though supposedly in reference to [this guy](https://usa.visa.com/visa-everywhere/innovation-centers/san-...).

Oh but I have heard people claiming the contrary: that banks are actually using a number for transaction and it has 666 embedded into it.

okay, if you believe stuff like that, it's hard to take you seriously. 666, the devil, he's there in your transaction? I remember when conservatives didn't like that unix has daemons. That was not particuarly a useful concern.

I guess this is a sarcastic reference to the "barcodes contain 666" conspiracy theory.

http://www.av1611.org/666/barcode.html