Cash payments above €3000 to be outlawed in Netherlands

Re:Cash payments above €3000 to be outlawed in Netherlands by raincom on Wednesday August 23, 2023 @09:58AM (#37235969)

Exactly this. Currency transaction reports are mandatory for any individual transactions > $10,000. This limit $10K was established in 1970 (Bank Secrecy Act). After 50 years, $10,000 of 1970 should have been at least $50K of 2023. Politicians and their crony bureaucrats never want to index these limits with inflation.

[ Parent | on HN ]

Re:Cash payments above €3000 to be outlawed in Netherlands by renegade-otter on Wednesday August 23, 2023 @10:14AM (#37236239)

Correction: the index what they need for the right people.

[ Parent | on HN ]

Re:Cash payments above €3000 to be outlawed in Netherlands by paxys on Wednesday August 23, 2023 @12:00PM (#37238086)

Here's another one – the USD $100 note was introduced in 1914. If currency denominations were to keep up with inflation, the Fed would be printing $3000 bills today.

[ Parent | on HN ]