Australia to BAN all cash payments over 7.5k US in 2019. (10kAUS)
>Australia’s Liberal Party government has announced that it will soon be illegal to purchase anything over $10,000 AU ($7,500 US) with cash. The government says it’s, “encouraging the transition to a digital society,” and cracking down on tax evasion. But not everyone is happy with the move.
>“This will be bad news for criminal gangs, terrorists and those who are just trying to cheat on their tax or get a discount for letting someone else cheat on their tax,” Treasurer Scott Morrison said in a speech announcing the government’s new budget. “It’s not clever. It’s not OK. It’s a crime.”
>While a ban on cash purchases over $10,000 may not seem like a big deal for the average person, plenty of small businesses are upset about the plan.
“It’s going to screw me—95 percent of my business is cash collections,” Paul Thomas, owner of Commander Security Services in Sydney, told News Corp this week. “On a monthly basis, we could process and move up to $4-5 million—either picking up cash, processing and EFT-ing it to customers’ accounts, or recarrying it from customers to their bank branch.”
>Today it’s any sum over $10,000 in Australia, but anyone with their eyes open can see where this is going. We should expect governments to move away from cash over the next decade, just as currency anarchists continue to insist that cryptocurrencies like Bitcoin and Ethereum are the real future.
>Researchers in the 1970s predicted that a widespread debit card system would be the perfect surveillance tool. And they weren’t exactly wrong. What they didn’t predict was what happens when a completely digital economy gets hacked. Equifax’s recent loss of so much personal data on virtually half of all Americans could feel like just a prelude to many more snafus to come.
Give us your paper cash anon, you don't support terrorism now do you?
http://www.news.com.au/finance/economy/federal-budget/cash-payments-over-10000-to-be-banned-as-government-targets-50-billion-black-economy/news-story/9df0646ba704bd170df5b3996d512f52
https://archive.li/DpO4t
https://www.zerohedge.com/news/2018-05-09/australia-bans-cash-payments-over-10000-deploys-strike-teams-while-asking-citizens
https://archive.li/GGgQl