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Governments indirectly forces banks to not deal with physical cash any more. If you frequently deposits/withdraws cash or any untraceable monetary instruments,
by raincom 3y ago
Governments indirectly forces banks to not deal with physical cash any more. If you frequently deposits/withdraws cash or any untraceable monetary instruments, AML algos flag your account as risky, leading to closure of your bank account. Even though your politicians say that they are not waging a war against cash, governments through regulation/laws such as BSA, AML, and KYC wants a cash-free world, as it becomes easy to trace every transaction.