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There are countries where this type of restrictions to using cash for large payments have been in place for many years. They help with: - mitigating money-laun
by matco11 7y ago
There are countries where this type of restrictions to using cash for large payments have been in place for many years.
They help with:
- mitigating money-laundering risk
- more effective application of sales tax
- more effective enforcement (in combination with other tools) against income tax evasion.
- ryacko 7y agoThere are several common types of money laundering today, exchanging deeds to offshore shell companies that own other shell companies that own real estate, private art auctions (where the bidder, seller, and artwork is private), etc. Those are all cashless.