Italian minister don't want a cash basis transactions.

[SanjidaAkterSanju 69]

According to me i think Italy may face a problem like some fake may be made in recent time. It may may effect their economic positively so they have made such decision. I think its good.            

[Shahud 1319]

i  think it is not possible to make cashless country .somewhere we need to pay through the cash .and being a country digital will effect to the crypro currencies .may be payment mode could be done by cryptocurrency

[sohan78980 1]

It will affect many Italians and businessmen who need to find other ways to lose money or make less money.
In fact, they are looking for money limits to avoid tax evasion

[Amdadul11 17]

Italian minister does not want cash based transactions. I do not know that I am new to this cryto world so I have not had any ideas about them.  Thanks !!

[Munam 23]

Italy is not use a crypto currency in digital currency because they have their own currency which is different from crypto currency 

[Crypto123 0]

1 hour ago, pxhungcntt09 said:

After cryptocurrency is expected to change their mindset in the future, this type of option will reduce the potential of bitcoin. Let them start and see what happens. This section uses the general definition of e-commerce as a way to reduce taxes and use credit cards or other money.

Certainly, according to my personal view, cryptocurrencies will be accepted in the near future, as if I see this happening with my own eyes and the entire world and the governments of the world must accept cryptocurrencies because these currencies will be future currencies against their will.

[Akash crypto 128]

ya it's a good thinking to make the transaction very easy and much safer but i think it's not totally possible to make country total cash less, because we need to pay somehow and somewhere cash for sure, so need to go with cash too.

[jekich.chan 1439]

This is very good, the Italian authorities understand that using bitcoin inside the camp for operations is much more profitable. Just now, in Italy, the coronavirus began to develop and paper money is a good carrier. Therefore, bitcoin and cryptocurrencies are now very profitable for Italy.

[BTC Future 3946]

Hopefully we will exit the fiat cash society. Cryptocurrencies are offering the exit door and while central banks are experimenting with their own versions of digitalization, they've already coming across problems that centralization can't solve. This is the will of the people for financial freedom. It was never this easy to transfer wealth everywhere in the world without even having a 3rd party authorizing transactions. Bitcoin has solved this and along with the rest cryptocurrencies are in a race to become widely adopted and used by everyone. Hopefully the final wave of adoption will be between 2020-2021 and cryptocurrencies will become an established method of transactions.

Edited March 9, 2020 by BTC Future

[iloveyobit 6599]

Yes, this news is really good for the field, but currently it has no actual effect. Bitcoin and cryptocurrencies are characterized by speed, as well as decentralization, and this will help many people.

[Opinder 1310]

On 12/12/2019 at 11:57 AM, josephrioveros123 said:

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. 

You have also written that the reason to adopt new technology is to stop tax evasion. But if you see crypto is anonymous so it could promote tax evasion more in the country. Minister prefer digital currency but I think he would prefer secure virtual currencies instead of anyone. 

[Captain Karim 0]

Italy also appears to be suffering from an economic crisis, but cryptocurrencies will not be a solution to get out of this crisis, perhaps they need to take strict measures in monetary policy.

[Thekingcallme 1975]

I hope Italy will succeed in overcoming the crisis it is experiencing these days due to the Corona virus, and after that there will be time to support cryptocurrencies and deal with Bitcoin in Italian banks.

[Shaza Ahmad 1682]

Any country that suffers from economic or financial crises heading to implement these measures, I think the Italian government is trying to do so for the public interest of all Italian citizens.

[Thomas. 1 18]

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.The world loves cryptocurrency, they hold them and trust them, but when come to international level they fear it.when crypto will be adopted by them then it will be good for the investor.

[bitcoin-shark 1928]

unfortunately it is true I am also Italian and I confirm the government tries to promote digital payments in order to track them, but I have seen ATMs where you can buy bitcoins with cash without any limit...

[pablomarwan 3082]

It may help them to deal in digital currencies to improve the financial position of their parents, but perhaps the Italian government imposes on them the imposition of paying tax value also on them, and since they are now suffering from infection with the virus, this is so

[Rezort 846]

For some reason I think that this will not work with the Italian population as there are too many old people who don't understand why digital currencies are much better.

[Omar Ommeish 4872]

On 12/12/2019 at 8:31 AM, Migo said:

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 

Yes, and I think that because everyone who refuses to deal in cryptocurrencies these days will be forced in the future to deal with them because many people will be interested in those currencies.

[jamesvince 2389]

If Italian ministers wants to reduce the cash transactions then there's hidden message for us that Italian government is going to launched it's own crypto market or any other form of online currencies for online buying and selling of that coin.

[Virgil dijk 1431]

I think this might be good news for bitcoin, but in another taught this decision would have no effect on bitcoin, because most government See's bitcoin as a threat and there may not want to give chance to it, I think there will rather prefer to use debit cards instead.

[Calvinpriva 17296]

This may help Italian citizens to adopt crypto currencies and to use them in their daily life. I believe this will happen and they will find crypto helpful to them just like how they are helpful to us.

[TimopheyKa 3900]

Hmm... I wonder why this is done? What do they want to get in this way, some benefit, or pity? I don't understand at all, but it sounds interesting!

[Cryptomint 433]

Yes you are right this is a good news for the crypto currency world and it can pump the Bitcoin and alts also. That was the to invest but now it has been consumed.

[Zeshan Khalid 2577]

Bitcoin requires knowledge and awareness to become common. Any restriction in cash possession will only lead to an increased use of online Fiat currency wallets or ATM's.