Nohing like a deceptive title for bait and switch! Wait, I belive you are going to want to read what the EU is doing and how it will destroy your financial privacy and ease of use of currency.
In just a few weeks, use of cash in quantities above €10,000 becomes illegal and then a few more weeks every € (euro) becomes programmable and thus trackable and of course fully controlled. Why is nobody talking about this?
This EU package deal is called 'AMLA' the most aggressive anti-money laundering law ever to pass in EU. Its been sold as protection, but as we unpack it you will something very different. Let's talk thru two points then jump into others.
Cash transactions over €10,000, will now be illegal. Say you desire to purchase a used vehicle for cash, your now a criminal.
Like Crypto? What coming impacts how much you send. If it is Crypto worth more than €1000, Brussels must approve it. Do you own an anonymous wallet, oh those are banned too. Every transfer is logged into a central database. Doesn't that sound like protection? Oh, I am sure it will secured by the most secure impenetrable security around to keep all the nefarious dark web actors out. Ha, it will prolly have password as the password so it’s ripe for the underworld to take data as they wish.
Wait, there's more ‘protection’ to unpack
Instead of addressing the real source of money laundering which is a €500 Billion year estimate in EU they are targeting the micro level transactions. Makes sense if your real goal is control, not stopping illicit activities. Put another way they are going to use surveillance of roughly 340 million people to catch a tiny fraction actually committing those crimes? Why not enforce the laws already on the books and stop being soft on crime. Ooops, can't do that, we must flag you as a free thinker too
