this post was submitted on 21 Mar 2024
2 points (100.0% liked)
Privacy
31816 readers
309 users here now
A place to discuss privacy and freedom in the digital world.
Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
In this community everyone is welcome to post links and discuss topics related to privacy.
Some Rules
- Posting a link to a website containing tracking isn't great, if contents of the website are behind a paywall maybe copy them into the post
- Don't promote proprietary software
- Try to keep things on topic
- If you have a question, please try searching for previous discussions, maybe it has already been answered
- Reposts are fine, but should have at least a couple of weeks in between so that the post can reach a new audience
- Be nice :)
Related communities
Chat rooms
-
[Matrix/Element]Dead
much thanks to @gary_host_laptop for the logo design :)
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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 in the EU.
I'm pro-privacy, but a lot more crypto facilitates crime than not, so I don't really know why people would be shocked that governments would attack crypto specifically here (literally almost all ransomware uses crypto). Looks like way more of a crackdown on crypto than cash, but maybe that's just me. (On top of the fact that a lot of crypto isn't privacy-oriented. Looking at you, Bitcoin)
Related: https://www.nbcnews.com/news/venmo-paypal-zelle-must-report-600-transactions-irs-rcna11260
Two years ago USA put in rules for commercial digital transfers over $600 to be reported. Just pointing out that the EU's rules don't seem particularly draconian when weighed against already existing rules elsewhere.
Here in Germany Cash payments for houses are a great way of laundering money for the mafia. Similar roles have als been proposed a while ago