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

[lizarder]

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?

Indeed there are some issues that Europe will soon launch a digital currency, I think this is still a relationship with bitcoin later which indicates the possibility that Europe will open up to bitcoin in the near future.

This has been in the headlines lately to suppress the prices of major currencies so that they can stabilize in the event of a weakening of the euro.

[kryptqnick]

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?

Cashless does not mean Bitcoin. Cash is just less useful and traceable than debit cards, so it's likely that Italy is trying to encourage people to use their cards more often. No wonder they're doing it, since when we went on a trip to Rome, we read that Italy is not that big on card payments in cafes and stuff, so it's much better to bring cash and be calm about this. I am not sure whether it was a precaution or it really mattered, since we used cash and did not pay attention to whether other options were available.
The tweet in this article also suggests that, as some have noted already, it's not a war against fiat, it's just against cash payments. So I am not sure whether it will help people to notice Bitcoin.

[rijaljun]

It's not like they would be anti-fiat, they're just anti-cash just like many countries in Europe. Slowly we need to eliminate the cash utilization which is an unnecessary spending. Why use cash when you can easily use electronic payments? Of course that using cash you can make transactions "off-the-grid" sort to say, but if you are a person with high ethics the only thing that wouldn't keep you away from using cash is the possible tracking that banks or people following our accounts' transactions might operate. That is ilegal, but still are you willing to trust the banks on this? That's why I think Bitcoin will totally transform the society as we know it.

Good point! Anti-cash should be common thing in the next few years. Now is electronic era, and it is much more efficient than cash system. But still could be a long way for Bitcoin adoption cause electronic payment system has a very wide definition. The govt could be a sign to start adopting cryptocurrency or either just to use centralized electronic payment system.

[Mulann2]

Everytime one positive over another about btc and crypto in general, i think in the long run this will be good impact on crypto, i mean who don't want to be a part of a ground breaking technology! Gradually some top officials are seeing the importance of digital currency and warming up to the idea, i hope this continues.

[aardvark15]

I would assume that Bitcoin won’t be an official currency of Italy. Most likely they will just use the same fiat currency but in digital form only. Or they will create their own cryptocurrency.

[dothebeats]

Although the move is to limit the amount of cash trades and prevent the spread of illicit, underground transactions, I still believe that this will not inspire a move for cryptocurrencies to flourish. People will just use any other government-recommended payment system/services since they don't want to get into trouble, or at least get themselves in situations where they can get apprehended for legal reasons.

Switzerland could be the first EU country to be cashless and officially accept cryptocurrencies. But for the case of Italy, Spain, France and others, they'd just move to digital cash for tracking purposes and not cryptocurrencies.

[boris2470]

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?

A cashless life is not really crypto support. Rather, it is a fight against fiat money, because fiat money engenders corruption and manipulation. Yes, cryptocurrency is ideal for a cashless life, however, for this, Italian leaders must accept Bitcoins and crypto in the country

[atjiat]

Although the move is to limit the amount of cash trades and prevent the spread of illicit, underground transactions, I still believe that this will not inspire a move for cryptocurrencies to flourish. People will just use any other government-recommended payment system/services since they don't want to get into trouble, or at least get themselves in situations where they can get apprehended for legal reasons.

Switzerland could be the first EU country to be cashless and officially accept cryptocurrencies. But for the case of Italy, Spain, France and others, they'd just move to digital cash for tracking purposes and not cryptocurrencies.

Of course, this is very good news, but at the same time they are bewildering, namely, how some of the leading countries of the world accept cryptocurrencies without problems, and countries such as the USA constantly express negative opinions and raise questions about the ban on cryptocurrencies.  I believe that cryptocurrency users will win and cryptocurrency will be used all over the world without any problems.

[The Sceptical Chymist]

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?

No, I think this is a horrible move on Italy's part.  The more cashless a government makes its citizens become, the more they can track those citizens' financial transactions, and that isn't a good thing IMO at all.

I fully realize that most people prefer to pay for things with their plastic or phones, but I think people should always have the option to pay with cash.

And no, I don't think this is going to do anything as far as increasing bitcoin adoption.  It's just Italy's government bullying its own people into giving up information.  This makes me want to chuck up my lunch.  Hopefully this sort of shenanigans doesn't become a global trend.

[todiboa]

Just because Italy is now anti-cash doesn't mean they are pro-Bitcoin.

Just because China accelerates blockhain development doesn't mean they are pro-Bitcoin.

Things aren't that simple, but I agree that this is one step closer to Bitcoin to get adopted there.

I also think so that if Italy is anti-cash now, this does not mean that Italy wants to accept cryptocurrency. Online payments are made using banks, but crypto is different.

[ChuckBuck]

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.


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 think we should not assert too soon. There are many alternatives to cash that are not bitcoin and other cryptocurrencies. The requirement: the currency be transparent and its value must be recognized by the government and everyone. Legality will make it easily accepted. Bitcoin is just one of many options.

[eaLiTy]

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.

I am not a fan of any country forcing their citizen to follow a path and when a government is against cash transaction you have to consider the merits of the rule they are implementing, they are not accepting BTCitcoin and there is nothing much to rejoice for our community but they are enforcing people to use fiat currency digitally which is not a good thing as you are living with all the restrictions and the freedom is curtailed and that is the fact.

[migws]

It's not like they would be anti-fiat, they're just anti-cash just like many countries in Europe. Slowly we need to eliminate the cash utilization which is an unnecessary spending. Why use cash when you can easily use electronic payments? Of course that using cash you can make transactions "off-the-grid" sort to say, but if you are a person with high ethics the only thing that wouldn't keep you away from using cash is the possible tracking that banks or people following our accounts' transactions might operate. That is ilegal, but still are you willing to trust the banks on this? That's why I think Bitcoin will totally transform the society as we know it.

Bitcoin will completely change society and the process of exchanging values, rebuild the banking system, but I have a question, will countries accept Bitcoin? This is a direct loss of power.

[figmentofmyass]

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.

i'm not a fan. it adds additional costs for merchants, which disproportionately hurts small business owners. it's a typical example of how government regulation increases costs.

we can see they are trying to phase out cash entirely with their incrementally lower limits. because the changes are subtle and occur over years, consumers are like the boiling frog. they won't put up a fight. most won't even realize that fully electronic payments are bad for their privacy.

[smartbitcoininvestor]

This sounds like very good news for the bitcoin community and the rest of the world. It will be interesting to see if the European Union favors bitcoin and other digital currencies over other cashless forms of money.

[bitbollo]

Ciao
In Italia we have some regulations that are changing since there is an high tax evasion and they think is related to cash payment.

For what I have seen, (like in some "official" appointment in Rome http://inpolitix.it/eventi-politici/42597-la-bitcoin-valley-trentina-in-parlamento-opportunita-x-litalia ) they are using the word "bitcoin" and "blockchain" without have any real idea of what they are talking about.
Note on this appointment there were no more then 10 people able to understand what was discussed...

personally (my Italian 2 cents ), I don't agree with such type of agreement, since these limitations are like "honey" for our banks and their heavy fees on credit card ...
limitations on cash payment will not avoid tax evasion.
limitations of cash payment wan't give any real advantage to bitcoin.
it's just an anti-cash promo, they will not adopt bitcoin

Have you ever heard that in Italy there are some politics party that own millions of euro and they want give anymore to the collectivity ?
https://milano.corriere.it/notizie/cronaca/19_dicembre_10/fondi-lega-riciclaggio-indagato-stefano-bruno-galli-assessore-regione-lombardia-ec367a88-1b5f-11ea-9c4c-98ae20290393.shtml
Did you think people like this want track their payment
Come on guys, come on!!!!

the right news should be=
ITALY is now ANTI-CASH. That's it. Don't be fooled!

[Asmonist]

Its a great start for them and eventually to influence other countries to do the same. Well, debit and credit cards are really convenient. And as they said you can easily track your spendings. Somehow they say it will make them easy also to tax us. But its really the reality that we spent. There's no wrong with cash. What I mean is that why we should hide our expenses? As long the government use our taxes properly.

[bitbollo]

Its a great start for them and eventually to influence other countries to do the same. Well, debit and credit cards are really convenient. And as they said you can easily track your spendings. Somehow they say it will make them easy also to tax us. But its really the reality that we spent. There's no wrong with cash. What I mean is that why we should hide our expenses? As long the government use our taxes properly.

Ciao! Read the previous post mine! you find all answers

As I told before, they are just acting against cash payment (likewise every shop should adopt payment with credit card). As italian, living in Italy, I can confirm that this news is not related to bitcoin.

[hahay]

That is not a small step in my view but it is a big step for technological advancements and the digital era because the Italian prime minister has obliged every company to accept payments using credit or debit cards or in other words the Italian prime minister wants a more digital payment system, and they also made a plan that must at least be prioritized about requiring all residents to have a bank account so that the plan can work well. To make such a big transition, it is indeed necessary for every government from every country to make big steps as well so that all plans can be done as well as possible, if that can be done well then of course crypto and blockchain which have many advantages in technology and digital will plays an important role for the system to be implemented.

[diahsw]

seeing good news like this continues, it looks like it has a positive effect on bitcoin. and we are a little bit right, because day by day more and more positive things are making bitcoin more popular .. !!