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A global trend. Australia has a $10K AUD (~$7K USD) limit introduced in 2020. China just introduced 2022 documentation requirements for cash withdrawls and depo
by contingencies 4y ago
A global trend. Australia has a $10K AUD (~$7K USD) limit introduced in 2020. China just introduced 2022 documentation requirements for cash withdrawls and deposits over 50K CNY (USD$7400) and are trialling e-renminbi (CN govcoin). Essentially the whole of Chinese society already pays most bills through Tencent's WeChatPay and the now-apparently-nationalized Alibaba's Alipay, so they have an effective govcoin by proxy already.