Italian minister don't want a cash basis transactions. - Crypto World - CryptoTalk.Org Jump to content
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Italian minister don't want a cash basis transactions.

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The Italian Minister Council continues to wage its war on cash, with the latest ratification lowering the maximum allowed amount for cash payments. This could lead to the rise of Bitcoin in the country.

 

The current officials are cracking down on cash usage and have lowered the maximum threshold for cash payments from €3,000 to €2,000 starting 2020 and 1,000 Euros onward from 2022.

 

In their movement to make Italy cashless, the new provision also includes penalties of 30 Euros for retailers who refuse to accept payments by credit or debit card. The motivation behind the newly adopted measures includes well-known reasons like the minimization of tax evasion and the abolishment of the informal economy.


click on the link for more info

https://beincrypto.com/bitcoin-viability-strengthened-by-new-cash-limits-in-italy/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc


I think this news is very good for bitcoin and alt coins. Because they can find their way into the mind of the Italian since their government wants cashless basis on trade. They want digital currency. And luckily bitcoin is one of the digital currency. Maybe what we should do bitcoin users is an additional push to advertise bitcoin for Italy to use it on their daily transactions. 

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I think this is a temporary decision, in the future when cryptocurrencies becomes adopted I guess he will change his mind, this kind of decisions will reduce the capable of bitcoin 

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I know this step is for avoid money laundry  because all transaction has record and fake money. That's good step even I must say they should have powerful secure system to manage all transactions. Let them start and see what happen.

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That is maybe good news for cryptocurrency. Because that maybe the cryptocurrency will used by some people in Italy. The Italian Minister Council know cryptocurrency soon will globally used, so they take the action first before late.

Also that is benefit for them because they can know how many circulation money through blockchain, time by time the price cryptocurrency will going up.

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They are trying to cover their failure and the failure of their corrupt financial system by attacking Bitcoin, but they certainly will not succeed. Bitcoin has been subjected to many difficulties throughout its long history, but it overcame all of its packages. Although it is not officially accepted by most of the world's governments, it is still continuing.

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If their political opponents who oppose these measures they are implementing are weak, then cryptocurrencies have a greater chance to gain strength and popularity in that country.

 

But I would not keep my hopes too high just yet. There wasn't any mention of cryptocurrencies being ACTIVELY advocated by the Italian government. This article describes more about using electronic transactions as a means of reducing tax evasions and such, by using credit cards or similar instead of cash.

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The motivation behind these measures they say is to minimize tax evasion and  abolishment of the informal economy. Both of that are pointers to the fact they're very much interested in controlling how its citizens use money and at that, I doubt they would grant Bitcoin and cryptocurrencies enabling grounds because what they stand for is exactly what the government is up against.

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That can bring brought to the cryptocurrencies system, the cryptocurrency system has no limit like the Fiat system

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I think that this law will make Italy a country that does not support cryptocurrencies but rather its goal is to narrow the paths for merchants from tax evasion and control

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THINK POSITIVE

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16 hours ago, heelsibat said:

This is the inspiration about adopting the cryptocurrency. Also it is a positive sign from the Italian minister. If the news is true then this is the very good news for us.

It can be an inspiration for more Italians to adopt cryptocurrency, but that is not what the minister had in mind. Actually they want to close all avenues people can evade their finances being monitored and you know cryptocurrency supports that. I think they will yet make another statement, by the time they discover that Italians have taken to cryptocurrency en mass.

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Italian minister don't want a cash basis transactions! there are others government on others countries who think like Italian minister, but in the future will change their mind about this decision.


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I think they doing it for controlling the system and to avoid the money laundering . when crypto will be adopted by them then it will be good for the investor.

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In my opinion, at this moment it's normally like other countries didn't accept cryptocurrency but I hope in future their mind will change and they will adopt cryptocurrency.

 

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I think its just not totally approved to their country, they will continue using fiat money as cash basis to used it in payments and transactions, as of now they are now adopting cryptocurrency so that they will now used crypto and fiat together.

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Promoting digital payments is one thing and accepting cryptocurrencies as national or parallel to national currency is another. I wouldn't be excited by this news, unless of course, there is some definitive statement on the acceptance of cryptocurrency.

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It is very interested information about Italian ministry that they wanted more usage of crypto market how this is possible because this industry do not pay any tax. 

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The Italian minister, this is because he wants to be on the blockchain, precisely by today's rules. This is due to the fact that in the first, the Italian Minister speaks about crypto. 

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There are many Italian members in this forum, and they will be really happy to hear this news because it is an online based currency exchange site.

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This kind of political debates related to cash are good for bitcoin and cryptocurrencies in general because people in that country are going to start using them for financial freedom 

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I do not think it will bring any success in Italy. But Italian government is too much sincere about their economy. So they will do their work best.

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I think that they do this only so that you can track every transfer in the country, if you enter in Italy, then only those that can be tracked

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I think this is nothing to do with Bitcoin, their minister just want to push people to go cashless, meaning that they still using their currency but in a virtual version it's nothing new we've already seen many developed countries have built a cashless society and there's no any significant effect for the bitcoin.

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4 hours ago, Viclassic said:

If their supporting opponents who dispute these dealings they are implementing are weak, it follows that cryptocurrencies produce a larger opportunity to secure potency and popularity in that country.

 

But I would not obey my hopes in addition from top to bottom a short time ago yet. near wasn't any remark of cryptocurrencies being ACTIVELY advocated by the Italian government. This article describes other about by means of electronic transactions as a income of plummeting charge evasions and such, by via prestige cards or comparable as an alternative of cash.

 

They are always been pretending like this. And we should be honest about that.

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It looks like they're going important with crypto though special that pound not even wrist band this kind internet business 100 % in the slightest degree

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