“Australia’s Liberal Party government says it’s ‘encouraging the transition to a digital society,’ and cracking down on tax evasion.”
Read more: https://gizmodo.com/australia-bans-cash-for-all-purchases-over-7-500-start-1825946888
“Interviews with more than two dozen customers who had their money stolen through Zelle illustrate the weaknesses that criminals are using in targeting the network.”
Read more: https://www.nytimes.com/2018/04/22/business/zelle-banks-fraud.html
“Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country.”
“As long as I’m carrying my Black Opal, there’s that little shred of liberty. If this the hill I die on, at least you’ll never know how I got here.”
“If they’re going to be so explicit in their hostility to the anonymity and liberty those means of exchange offer people, we should take them at their word. Let’s be clear in response that what they see as problems are the precise features we like about cash and cryptocurrencies. We support our well-worn folding money and bitcoin and its successors to come precisely because they put at least some of our activities beyond the reach of control freaks who want to monitor, tax, and regulate our lives.”
Read more: https://reason.com/archives/2018/02/06/governments-hate-bitcoin-and-cash-for-th
“Phil Parhamovich lived a months-long nightmare trying to get his lawfully earned life savings of $91,800 back after law enforcement seized it during a routine traffic stop that resulted in no charges or even accusations.”
Read more: http://ij.org/ll/february-2018-volume-27-issue-1/victory-ij-helps-musician-stop-highway-robbery/
“Anxiety is only increased by the latest report from Reuters that cash withdrawals at Hong Kong ATMs have surged, prompting scrutiny from monetary authorities, the banking industry, and police amid media reports that mainland Chinese are withdrawing hundreds of thousands of dollars using up to 50 cards at a time. China has battled to curb capital outflows for years. A move that took effect on Jan. 1 caps overseas withdrawals using domestic Chinese bank cards.”
“India’s government said it doesn’t consider cryptocurrencies as legal tender and will take all measures to eliminate payments using them. The South Asian nation’s income tax officials had started investigations into transactions at various illegal bitcoin exchanges in December, soon after the country’s central bank cautioned users about potential risks. The federal government had also set up a panel to decide on India’s stand on virtual currencies, people with knowledge of the matter said on Dec. 12.”
“Store owners, growers and distributors are being forced to use cash because most banks won’t open accounts for them while the federal government still considers marijuana illegal. As revenues inevitably increase, they will be lugging larger stacks of 50s and 100s to the tax collector, a situation that everyone agrees makes businesses vulnerable to thievery, violent crime, money laundering and extortion.”
Read more: http://www.sfgate.com/bayarea/article/John-Chiang-lays-out-plan-to-create-a-public-bank-12537099.php
“The IRS accepts this tainted money in the payment of taxes, turning it into ‘clean’ money; and it is not an unwitting accomplice to the crime. Estimates are that marijuana business owners across the U.S. will owe $2.8 billion in taxes to the federal government in 2018. The government makes a massive profit off the deal, snatching up to 70 percent of the proceeds of the reporting businesses, as opposed to the more typical rate of 30 percent. It does this by branding marijuana businesses criminal enterprises, which are not entitled to deduct their costs when reporting their income.”
Read more: https://www.truthdig.com/articles/biggest-launderer-marijuana-money-u-s-government/