Aside from the "war on cash" angle covered in other comments, setting these types of limits to an arbitrary dollar amount is fundamentally unjust. The CTR limi

Aside from the "war on cash" angle covered in other comments, setting these types of limits to an arbitrary dollar amount is fundamentally unjust. The CTR limit of $10K in the US is well known, but when it was introduced in the 70s[1] $10K was the equivalent of around $65K in today's money. Similarly, inflation will guarantee if this is enacted Australians won't be able to buy something like a phone, fridge or a laptop in a few decades due to the relentless progress of inflation. A few decades after that they won't be able to buy their groceries for $10K. These types of laws effectively outlaw cash entirely, they just have a time delay until they come into full effect. 1. https://repositorio.comillas.edu/rest/bitstreams/38908/retrieve https://repositorio.comillas.edu/rest/bitstreams/38908/retri...