A member of the European Parliament (MEP) has warned that the European Union (EU) is in danger of “criminalizing” the use of physical cash in favor of using digital currencies with its new anti-money laundering laws.
Politicians in the European Parliament, the EU’s main legislative body, have long been campaigning to impose an upper legal limit on the value of cash transactions within the bloc, claiming that such a move would help curtail criminality within the bloc.
The latest proposal the European Parliament has voted on prevents Europeans from spending over 7,000 euros ($7,617) in the physical tender as part of a single transaction and bans cryptocurrency transactions paying for goods and services that are valued over 1,000 euros ($1,088). (Related: State legislatures are sneakily introducing amendments to laws that would pave the way for CBDC domination .)
Dr. Gunnar Beck, a German MEP from the conservative […]
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