So Italy is now anti-cash and pro-Bitcoin?

[EdvinZ]

The authorities need a full transition to non-cash payments in order to control all payments of individuals, and it will be easier for tax authorities to track people. But also the government will be able to sell to suppliers of goods and services information about what goods and services are in great demand in a particular area of the city. This will be convenient for both business and consumer. Non-cash payments are more convenient, especially if they are made through cryptocurrency.

[bitbollo]

In Italy a lot of people doesn't have a bank account since they have also not "official money" (working without contract etc)...  

A lot of merchants (like taxi driver) most of times REFUSE to accept a ride if you want pay with a card
since they don't give any real receipt or better they don't want paying taxes...

Italy has low cash transaction limits, what do they do if they have to pay for something over this limit? It's common almost everywhere in Europe for cash-heavy businesses to underreport their income, but not having a bank account at all is pretty rare.

In Italy there are some laws also against mafia, against not official workers etc... I think this can explain a lot of things...

The anti cash politics will not solve the problem of cash payment just another way to force people (HONEST PEOPLE) to pay a lot of transaction fees to bank and credit card issuer.

[slaman29]

Yeah clearly there is a lot of mistaken definitions and the same is happening in Greece, people still associate cash with fiat, but they should just say paper money to take away all doubt. Paper money is basically going to be phased out one day when the entire world goes digital and even in India they are now beginning to try and move everything to ecash.

Nothing new here. Anti cash just means anti paper.

[Lauren Smith]

It sounds more like they want to keep their eye on taxes. Using cash-only business is easy to not pay as much tax as you should be paying. If the penalize businesses for this they will be under the radar and have to pay a penalty. You should be able to take payment in whatever you want to since after all, it is yours to sell or your service to offer in exchange for something you want. Im not sure if this is so much of a movement towards crypto usage as it is about control.

[Maslate]

Italy is a modern country and is ready to accept crypto. Every year there will be more and more such countries.

It's great that more countries are already inclined into crypto and has turned cash into a cashless society. But my question is are those countries will use bitcoin or ethereum for digital payments? I guess they will also create their own cryptos and not just rely on bitcoin and ethereum for digital payments.

[Fundamentals Of]

Italy is a modern country and is ready to accept crypto. Every year there will be more and more such countries.

It's great that more countries are already inclined into crypto and has turned cash into a cashless society. But my question is are those countries will use bitcoin or ethereum for digital payments? I guess they will also create their own cryptos and not just rely on bitcoin and ethereum for digital payments.

Avoidance of too much cash in transactions cannot be immediately equated to their preference of cryptocurrencies as the case of Italy is all about. The avoidance of too much cash in transactions are taken primarily to limit illegal transactions which are mostly using cash. The country is choosing to develop more on the cashless transactions. But we need to remind ourselves that cashless transactions do not mean crypto transactions. It is basically card transactions. Just the same, it uses fiat.

[bitbollo]

Italy is a modern country and is ready to accept crypto. Every year there will be more and more such countries.

LOL Have you read this topic, the news linked or any coment here?
People continue to spam " great news wowwow" etc etc..... such a low quality of discussion

[stompix]

LOL Have you read this topic, the news linked or any coment here?
People continue to spam " great news wowwow" etc etc..... such a low quality of discussion

I can understand you!
It's a pain to see people who can't show where your country is situated on a map talking about, right?
I've been through this also, people shitposting and acting like they know better or some that are even contradicting you.

Just the other day I saw such a guy posting crap like "Zurich is popular in Switzerland"  Is Rome popular in Italy? 
Back somewhat on-topic

In Italy there are some laws also against mafia, against not official workers etc... I think this can explain a lot of things...
The anti cash politics will not solve the problem of cash payment just another way to force people (HONEST PEOPLE) to pay a lot of transaction fees to bank and credit card issuer.

There is a simple way to limit cash transactions but unfortunately in Italy, it won't work that good because of the euro.
Banks could limit the number of banknotes over 5 euros they give out and put a #% tax on cash deposits for business when they deposit cash each day at the bank.Of course, at first, the reaction will be the opposite as businesses will try to store cash and avoid banks but larger operations will soon need to make payments to giant etailers who don't deal in cash and once the river starts flowing the shortage will affect the small business also.
Also, I want to see the mafia bribing and dealing with 5 euros notes:)

[sovie]

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.

There are many countries that discourage the use of cash and withdrawal of cash from banks. In my region, there is some tax on bank withdrawal above a certain limit and it's in practice even since before bitcoin came. I think Italy is doing the same and this doesn't mean they are moving towards Bitcoin.

[dmamigo]

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.

There are many countries that discourage the use of cash and withdrawal of cash from banks. In my region, there is some tax on bank withdrawal above a certain limit and it's in practice even since before bitcoin came. I think Italy is doing the same and this doesn't mean they are moving towards Bitcoin.

I do agree that specific few countries are now pushing to implement digital payments. But yes, it doesn't mean they will accept or they are inclining towards Bitcoin.

When our country informed us that there might be a cryptocurrency of their own, everybody thought this would lead to Bitcoin and other crypto acceptance, but unfortunately, other cryptos are on the verge of being restricted from usage in our country.

So if a country is inclining towards digital payment, do not assume that Bitcoin and other cryptos will be implemented in the digital payment sector and this will grow the price.

[killerfrost]

Many countries are facing the reality in one way or another that in the next decade to come this world is gradually switching into a cashless ecosystem. Ghana also announced its plans in creating their own digital form of payment not necessarily a cryptocurrency. One thing that i have realized is that, even if these countries decide to adopt digital form of payment most are likely going to create their own cryptocurrency and not necessarily use bitcoin or ethereum. Should this be a great concern for bitcoin holders?

Exactly like that, it will be a huge problem for BTC and the current altcoins. Most cryptocurrency-supporting countries intend to create an altcoin for their country, and they will not use BTC and altcoin as a payment method. I fear it will impact and crash the price of BTC and altcoin at the moment

[BChydro]

But it will create more crypto users. Once they understand the benefit of dealing with crypto, I believe they will go for bitcoin or other alts. The convenience, the tx fee as compared to traditional ones, and the duration of transfer are only few of its advantages. I hope this move will truly pave the way to more crypto adoption.

If there is a restrictions from the government to spent physical cash then that does not mean that it will promote a decentralized currency, there are many benefits if you are an international trader rather than using conventional banking sector as it will help in saving a lot of money in an annual year and in the future we might see traders using these methods but it is early to view those.

[nomenclatur]

I think this is good news for cryptocurrency for the country's future Italy is a country that is so advanced it will be very good for the price of bitcoin up also if the country Italia using bitcoin to country other is putting aside cash for cash right now is not so effective to purchase goods in marketplaces online. bitcoin could also be a solution for other countries.

[qiwoman2]

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.

Click here for the full news

To all Italian crypto enthusiasts here, are you in favor with this or not?

It seems that the prime minister of Italy is now in favor of cashless payments than spending paper bills in various products and services.

I also like his idea that companies who are operating in Italy are penalized if they do not accept credit or debit card as mode of payments for their customers. One thing that Italy should solve is those who are “unbanked”. Of course, not all Italians have a bank account or qualified to have a credit card.

Enter Bitcoin and other cryptocurrencies. I think this is a baby step towards full cashless society, and I strongly believe that Bitcoin and other cryptocurrencies will also be part in their future system. What do you guys think about this?

Is this a great idea for Italy’s future? Should they be a great example to other countries who needs to transition from cash to cashless?

You know why this is happening? Mainly to curb corruption and tax evasion. It's a little like what is happening in Greece. Now most restaurants etc have to use card and everything is processed electronically because they used to doge paying the V.A.T, so the last government stepped in to curb the mess. Everyone wants money, free healthcare, free education, infrastructure, defence etc, but no one wants to pay tax. I understand we all want to dodge the tax bullet legally, but this is the primary reason this is happening and countries are going digital. How it will affect Crypto and the use of Bitcoin as a medium of exchange? It might have a positive impact and only time will tell of course. It will be interesting to see the outcome, say over the next two to three years.

[Eugenar]

You know why this is happening? Mainly to curb corruption and tax evasion. It's a little like what is happening in Greece. Now most restaurants etc have to use card and everything is processed electronically because they used to doge paying the V.A.T, so the last government stepped in to curb the mess. Everyone wants money, free healthcare, free education, infrastructure, defence etc, but no one wants to pay tax. I understand we all want to dodge the tax bullet legally, but this is the primary reason this is happening and countries are going digital. How it will affect Crypto and the use of Bitcoin as a medium of exchange? It might have a positive impact and only time will tell of course. It will be interesting to see the outcome, say over the next two to three years.

And the analogy OP made is quite pro bitcoin already. Because when people say they don't want cash, it means digital, and being digital not readily means its cryptocurrency. It could be through cards which is still handled by the banks. In that regards, cryptocurrency will just make the situation worse for the government and banks if people could see how it works, but if we are to look in a wider angle, all the ideas of the government is for the people, soon people will realize that their hate for paying taxes is one of the things that kills their nationalism.

[drachman]

The world is moving towards anti-cash, but it doesn’t equal to pro-Bitcoin, Bitcoin is still far from being daily money because of its fluctuation.

That is definitely a tendency that we have seen during the last decades, but we do not really need the government to become supportive of bitcoin, we only need the people to be supportive of bitcoin, because at that point whatever regulations that governments decide to put in place will be ignored by the people and there is really not much that a government will be able to do at that point because people are going to be enjoying all the benefits of cryptocurrencies without the hassle of having to deal with the government.