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On the other hand, the fact that it's just a cap on transactions over 10k AUS could mean it really is an anti money laundering statue and not a covert attempt a
by epiphanitus 7y ago
On the other hand, the fact that it's just a cap on transactions over 10k AUS could mean it really is an anti money laundering statue and not a covert attempt at creating a cashless society.
Again, I am by no means an expert on Australian law, but I am curious about whether a law like this would be precedent-setting somehow. The role of precedence in the US legal system (and how interested parties influence legislation, for that matter) is well known and something that is browbeaten into every US civics student.
It also may be that the strength of the movement/opposition to cashless economies will hinge not on money laundering statutes but with the success or failure of libra.