Privacy

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EU moving towards total monetary surveillance and banning all anonymous payments (lemmy.ml)

submitted 8 months ago* (last edited 8 months ago) by makeasnek@lemmy.ml to c/privacy@lemmy.ml

153 comments fedilink hide all child comments

How to contact your MEP: https://www.europarl.europa.eu/portal/en/contact

Source: https://snort.social/nevent1qqsvcedd6dg39eh6633uqqff0p9h2zqyhu3zd6kwyyhzqj7da02x4pszyqe2wpknmwkyd0t295d5ezvtaxr00ngxjtcfuct8pfvyec3snckpwqcyqqqqqqgz2f7lp

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[–] sugar_in_your_tea@sh.itjust.works 7 points 8 months ago (2 children)

You obviously didn't read it. This is specifically targeting businesses, not individuals, so you'll still be able to use Monero and whatnot to buy stuff from companies, they just need to have their crypto wallets at a custodian (presumably for tax transparency). Likewise with cash transactions, large transactions are rare and unnecessary between businesses.

[–] admin@monero.town 5 points 8 months ago (1 children)

If that is actually the case, the crypto portion is at least not that bad. The 10k limit on cash transactions is just not feasible in some industries though.

[–] szczuroarturo@programming.dev 2 points 8 months ago (1 children)

Yeach im most worried about used car market. Thats the only place that i know of where large amounts of cash is exchanged most often.

[–] sugar_in_your_tea@sh.itjust.works 2 points 8 months ago* (last edited 8 months ago)

I'm pretty sure this is business to business, not customer to business. So you could still buy that €11k car, the bank would just need to deposit it instead of handing that €11k to the wholesaler in cash (they'd need to use a bank transfer for that).

I could be wrong though, it just depends on what "business transactions" means. Is it only B2B, or B2C counts too?