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RE: Australia's Pro-Bitcoin Policy Implemented
I dont know maybe am wrong but cashless payment still can have many issues too!
from another perspective i think its a good news for bitcoin holders and crypto in general
Cash Works Without Electricity
and crypto does not. I'm saddened to see Australia causing problems for businesses and individuals who deal with large amounts of cash.
Criminals Don't Care About Gun or Cash Limits
so what is the motivation for Australia to put limits in place for their law abiding citizens? Someone is getting a payoff from this.
Watch Monero become overused by Australia now. ;)
I think these limits will not affect regular citizens that much. Businesses who make purchases of more than $10k in cash could benefit from the documentation of electronic payments. That will hopefully also better regulate tax filing and declarations.
True that the black market has no concerns on cash limits. Even with electronic payments, money can be laundered. Just be prepared to see lots of black market items selling at $9999. :)