European Parliament Approves Directive Banning Cash Transactions Over €10,000

In other news, the Jews have banned you from using money.

European Conservative:

The European Parliament has approved a directive that will severely limit the use of cash.

Under the directive, ostensibly aimed at curbing money laundering and the funding of terrorism, anonymous cash payments over €3,000 will be banned in commercial transactions. In business transactions, cash payments over €10,000 will be completely banned. Anonymous payments in cryptocurrencies will also be completely banned.

“Under the guise of combating money laundering, you are actually waging a war against cash which has protected our financial privacy since time immemorial,” said German Pirate Party MEP Partick Breyer.

Breyer points out that cryptocurrency is already traceable when necessary as it operates through a blockchain peer-to-peer computer network. He adds that law enforcement has already effectively traced and caught criminals committing financial crimes or laundering money from illegal activities through cryptocurrencies. He also notes that during the public consultation period on the directive, it proved highly unpopular among citizens in EU member states, with 90% of respondents weighing in against the measure, citing the use of cash as an essential personal freedom.

Experts have also warned that it will do little to prevent crime while harming ordinary citizens, particularly the most vulnerable.

“On the other hand, [cash payment limitations] may bring about higher transaction costs, undermined privacy, weakened trust to institutions, basic rights violations, bank-runs and bail-in regulations that place citizens’ savings at risk of devastating losses,” Nikos Passas, Professor of Criminology and Criminal Justice at Northeastern University, stated in a blog post.

This is one of the top government programs that no one requested at all.

Nobody wants this, but they’re gonna do it anyway