Crypto Vs. Cash: Which Countries Expect to Go Digital Soon? | Crypto Craft

  • Crypto Vs. Cash: Which Countries Expect to Go Digital Soon?

    From cointelegraph.com

    The Liberal Party of Australia recently proposed a draft bill clarifying that purchases of over 10,000 Australian dollars (around $6,750) in cash would not be legal. According to the government, this step will dissuade tax evasion and encourage a transition to a cashless society. According to the document, transactions equal to or exceeding the stated amount should be carried out using an electronic payment system or by checks. Those payments also must be reported by an entity under Anti-Money Laundering (AML) and counter-terrorism legislation. In this case, cryptocurrencies are considered as “payments that the ... (full story)

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auricforecas
Aug 12, 2019 2:31pm
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Yeah, I think this is a general trend... It started with B2B... that were not accepting cash...
But for normal people it seems to be the trend and norm because countries would like to track every cent.. so no hidden funding, activities... They made quite a good progress in the last 10 years... I would not be surprised if in like 10-20years... cash payment will be much more rare if not almost gone or forbidden... Just watch how fast this contactless (or mobile) payment went around the globe, I was very surprised how fast everyone caught up... They look weird if you do not have contactless credit/debit card...
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