News for hackers. Stuff that matters.
Re:EU-wide maximum limit of €10K for cash payments by andai on Saturday December 10, 2022 @03:07PM (#33936293)
It's to phase out cash. Can't be a good citizen unless every transaction is logged and monitored!
Re:EU-wide maximum limit of €10K for cash payments by mdp2021 on Saturday December 10, 2022 @04:00PM (#33936746)
It's a promotion of barter.

(I understand in this tree the '/S' is taken for granted.)

Re:EU-wide maximum limit of €10K for cash payments by andai on Saturday December 10, 2022 @10:20PM (#33939728)
It's a guerilla marketing campaign for Monero ;)
Re:EU-wide maximum limit of €10K for cash payments by collegeburner on Saturday December 10, 2022 @03:20PM (#33936428)
and in 5 years, you'll be using the great new CBDC! so the ECB can automatically remove your money to comply with negative interest rates!
Re:EU-wide maximum limit of €10K for cash payments by mdp2021 on Saturday December 10, 2022 @04:23PM (#33936948)
At least with CBDC there seems to be a way planned for anonimity:

> There are two types of retail CBDCs. They differ in how individual users access and use their currency: // Token-based retail CBDCs are accessible with private/public keys. This method of validation allows users to execute transactions anonymously // Account-based retail CBDCs require digital identification to access an account // The two types of CBDCs, wholesale and retail, are not mutually exclusive[ - i]t is possible to develop both and have them function in the same economy

Pretty important, because currently having anonymous electronic transaction is heavily difficult.

https://www.investopedia.com/terms/c/central-bank-digital-cu...

Re:EU-wide maximum limit of €10K for cash payments by buran77 on Saturday December 10, 2022 @03:39PM (#33936573)
By the time Madame Lagarde is done a lot of people will be praying to still have something in the bank to pay negative interest for.

With the current inflation €10.000 will be worth far less in the near future, and I'm certain the amount won't be updated yearly to account for that. This 10k "magic number" has stayed the same for a long time. This isn't about money laundering as much as about control over even relatively low value cash transactions.

Re:EU-wide maximum limit of €10K for cash payments by defaulter4once on Saturday December 10, 2022 @05:02PM (#33937347)
Lagarde is a criminal with connections... https://www.bbc.com/news/world-europe-38369822 "A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment."