4 ms·
> These would be DOA in America because our distrust of centralized power largely outweighs our fear of invasion or terrorism. Federal law requires a person to
by mellavora 4y ago
> These would be DOA in America because our distrust of centralized power largely outweighs our fear of invasion or terrorism.
Federal law requires a person to report cash transactions of more than $10,000 by filing IRS Form 8300PDF, Report of Cash Payments Over $10,000 Received in a Trade or Business.
https://www.irs.gov/newsroom/cash-payment-report-helps-government-combat-money-laundering https://www.irs.gov/newsroom/cash-payment-report-helps-gover...
See also https://www.fincen.gov/sites/default/files/shared/CTRPamphlet.pdf https://www.fincen.gov/sites/default/files/shared/CTRPamphle... Federal law requires financial institutions to report currency (cash or
coin) transactions over $10,000 conducted by, or on behalf of, one person,
as well as multiple currency transactions that aggregate to be over
$10,000 in a single day
And finally remember civil forfeiture implies carrying "large" amounts of cash risks police seizing the cash with very limited recourse.
So no, not DOA in the US, rather already existing in the US but in a more sly format
- noduerme 4y agoI'd argue there's a big difference between a law which requires reporting a transaction and one which criminalizes it. I have no problem reporting large cash transactions. I do have a problem keeping all my money in electronic accounts that can be vaporized by government fiat, hacking, bank insolvency, clerical error, EMP, etc.