Mastodawn

makeasnek Mar 21, 2024

EU moving towards total monetary surveillance and banning all anonymous payments

EU moving towards total monetary surveillance and banning all anonymous payments - Lemmy

How to contact your MEP: https://www.europarl.europa.eu/portal/en/contact [https://www.europarl.europa.eu/portal/en/contact] Source: https://snort.social/nevent1qqsvcedd6dg39eh6633uqqff0p9h2zqyhu3zd6kwyyhzqj7da02x4pszyqe2wpknmwkyd0t295d5ezvtaxr00ngxjtcfuct8pfvyec3snckpwqcyqqqqqqgz2f7lp [https://snort.social/nevent1qqsvcedd6dg39eh6633uqqff0p9h2zqyhu3zd6kwyyhzqj7da02x4pszyqe2wpknmwkyd0t295d5ezvtaxr00ngxjtcfuct8pfvyec3snckpwqcyqqqqqqgz2f7lp]

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Snot Flickerman Mar 21, 2024

This doesn’t seem that much worse than American rules that have already been in place for a long, long time.

As it is, large payments or withdrawals must be reported to federal agencies, anything over $10k. This applies to cash transactions as well and the forms the IRS requires you to fill in a $10k+ cash transaction can be found here.

The biggest difference would be the impact on cash transactions and crypto transactions.

I’m pro-privacy, but a lot more crypto facilitatess crime than not, so I don’t really know why people would be shocked that governments would attack crypto specifically here. Looks like way more of a crackdown on crypto than cash, but maybe that’s just me.

Understand how to report large cash transactions | Internal Revenue Service

FS-2021-03, February 2021 — Although many cash transactions are legitimate, the government can often trace illegal activities through payments reported on complete, accurate Forms 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. Here are facts on who must file the form, what they must report and how to report it.

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Possibly linux

Just because one country has it doesn’t mean another should adopt it