THELOGICALINDIAN - Back in January 2024 the European Commission proposed a plan to absolute high banknote payments for individuals The acknowledgment was overwhelmingly negative
After a angle by the European Commission to absolute the best bulk of banknote payments, it conducted an EU-wide analysis in adjustment to bigger accept how the population acquainted apropos the proposal. The survey assured that 95% of the responders are abnegation the angle and acerb accept that this admeasurement isn’t advantageous at all. The majority of responders were from Germany, a country that is accepted for their abutment for banknote payments and banking privacy.
In contempo months, some governments have taken accessory and alike desperate measures in adjustment to able bottomward on cash. A acclaimed archetype is aftermost years accommodation by the Indian government to ban assertive money notes, in adjustment to action banknote accession and tax evasion.
Last year, Amsterdam alien an avant-garde way for abandoned bodies to aggregate money. Abandoned bodies were accustomed jackets that accustomed them to digitally accept money, which can be acclimated to buy food, baths, and apartment at a abandoned shelter.
In February, the Venezuelan government absitively to crack down on Bitcoin operations. After the Venezuelan Bolivar badly alone in value, abounding bodies absitively to barter their actual money for bitcoins. Banknote acquittal banned may force citizens to use beneath banknote or no banknote at all, and may even push them to use cryptocurrencies like Bitcoin or Ethereum in adjustment to pay a college bulk of money and accumulate their banking affairs added defended and bearding from governments.
What are your thoughts on this admeasurement by the European commission? Do you anticipate that bodies may use Bitcoin in adjustment to accumulate their affairs added private? Let us apperceive in the comments below!
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