EU moves toward digital euro by making cash transactions illegal.
This plans include:
Experts criticize the move, warning it could lead to government manipulation of citizens.
I swear, EU can fuck right off.
I know the world is mad at the US right now for many reasons but this is where I believe US is “free-er” and hence better in some regards, still.
What is EU really planning for with such dystopian and egregious laws and rules with tech and tech policy?
Relevant:
Canada also doing the same - Canadian Government Quietly Advances Plan for National Digital ID - Slay News
@mongrel306
Is "slaynews.com" a reliable source?
I see a reference to "socialist prime minister Kier Starmer", lol.
And if it is, will it be _perceived_ as a reliable source by our friends and family to whom we might send that link?
Their about page doesn’t inspire confidence. It doesn’t read as a professional enough journalistic source given the lexicon used - I’ve seen such innocuous sounding language before and it does raise red flags to me.
But to the extent to which the links in this thread is concerned, evaluate the info for what it says and not the website reporting it.
Also, not to mention the name of the website. Are only Gen Z’s running this?
Wasn’t that already the case? And how does that work?
Because to my understanding, someone who regularly deposits every month €9990 in cash, is going to trigger alarm bells. Even if the amounts vary from €5000 to €9990, it will ring alarm bells.
Of course, most of us will never be in that situation but imagine if you’re rich. You’re a millionnaire from a legitimate job that pays you very handsomely. Rich people take out €10 000 or more out of their bank accounts all the time.
Suppose you like having cash stashed in your home, and you’ve amassed €250 K, from many cash withdrawals from your own bank account. Your withdrawals are recorded in your bank statements. Your sister comes to visit you from out of town, and you give her €20 K cash before she leaves.
How does she prove the origin of the money when she tries to deposit it in her bank account? Let’s assume that out of all your withdrawals, none of them were for €20 K. It was always more or less.
I don’t think I’ll ever be in a situation when I am spending over €1,000 in crypto. Not even half.
That being said, this is insane. If I can spend €1,000 cash without providing my ID, I should be able to do the same with crypto.
If you want to require ID for certain types of purchases, like say, you’re buying firearms, then sure. But to ban any transaction above €1,000 is ridiculous.
What makes a wallet anonymous? Aren’t all wallets anonymous by default?
Meaning that it’s only if you want to buy crypto from your wallet provider that you will need to provide ID.
@JG
>evaluate the info for what it says and not the website reporting it.
If I show it to, say, my dad, he won't do that.
I need a source that doesn't trigger people's political buttons.
My understanding was that:
>Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero and Zcash. from Cointelegraph
So I don’t think it’s a complete ban of anonymous wallets for private individuals, and in my interpretation it might not even affect non-financial service providers accepting payments in Monero or Zcash, such as VPNs. Still, obviously, it’s yet another signal that the EU is not your friend and that they do not want people to have privacy even if many think otherwise because of the GDPR.
Apparently, payments between “natural persons” will not be concerned. So you should still be able to buy a used car for example from someone else. Not really reassuring. TBF, most EU countries already set lower limits anyway.