This is doubtless the first time that a country is to implement such bizarre measure to counter the abuse of cash.
I seriously wonder in what reality the authors of such articles live or if they do spend more than one-minute thinking before publishing this kind of articles:
So you have a limit of 25 000 myr or 6 000 $.
Newsflash:
https://www.europe-consommateurs.eu/fileadmin/user_upload/eu-consommateurs/PDFs/PDF_EN/Limit_for_cash_payments_in_EU.pdfFrance 3000 for fiscal residents in France (15 000 for the non residents acting as a consumer 3000 if they act as a trader).
Spain Since November 19th, 2012, the limit is 2500 (for Spain residents) and 15 000 (for non residents).
Bulgaria Limit up to 10 000 leva (approximately 5112 ).
Belgium The Belgian law from 29 March 2012 limits the cash payments from 15.000 EUR to 5.000 EUR since 16
April 2012. In January 2014, the limit will be reduced to 3.000 EUR
and more...
Such limits have been imposed in Europe for a decade yet the author has just heard of such thing.
Doubtless...lols!
I read the problem is solved by electronic money oh my god but more fees will come out for shipping ,unfair policies for residents who have little money
Citizens who have little money are not dealing with 6000$ in cash each day to be affected by this!
That's true, but my point is how will they monitor the physical transactions. Are they going to install webcam everywhere? Or wiretap all their people's phone? It's easy to say you must not transact more than $100 in cash each day, but monitoring millions of people is not easy peasy.
Do authorities have a hidden cam on every car when issuing speed tickets?
Are they wiretapping all drug addicts to find out when they have an ounce of meth on them?
Are they spying on all the people in the country 24/7 to find out who is avoiding taxes?
Nope, of course.
There will be nothing like this, they already know who is dealing with large amounts of cash, they know what activities they should check, they know who will try to avoid those limits. And once the law is in place you just have to raid those businesses and check their books.
Let's be real here, how many people are dealing with such an amount in cahs every day in that country?
6000$ a day is a huge number even by US and western Europe standards. We're talking about 2 million$ a year.