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

[malevolent]

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 it really hard to get a bank account in Italy? Shouldn't be the case in an EU member country.

Switzerland could be the first EU country to be cashless and officially accept cryptocurrencies.

Switzerland is not an EU country.

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[cutesgirl]

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?

Do you get valid information side about Italy dislike with cash transaction and look interested by using bitcoin as their currency? I know which one country keep support bitcoin as legal currency and look not really trusted if Italy like using bitcoin as currency digital payment because Europe is not support country for using bitcoin as currency payment transaction.

[Tipstar]

Every countries are rooting for cashless transaction and many have realized blockchain is the way to go. Blockchain provides both the transparency and flexibility as well as one of the most cost efficient way to supply cash. We could be seeing a physical bank less economy which certainly would bring a boost to economy.

[Velkro]

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]

This has little to do with Bitcoin actually.
Its terrible for privacy and freedom of people. Cash payments even if you don't use them are basic of freedom and privacy in society.
I hope people will recognize that as soon as possible to prevent such limitations.

[drlukacs]

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?

actually , this does not cause a great demand for Bitcoin or cryptocurrencies in Italy. because the government only limits the use of fiat money but there are also a lot of credit systems and payment apps. It even works faster and better than crypto because it has more approved services than coins. Now paying with crypto is also very rare and only available in a few services, besides, I find it not highly recommended in payment.

[samcrypto]

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 .. !!

Italy didn't even say that they will adopt bitcoin, they just want to monitor all the transactions of their people so they can collect taxes. On the other hand, if many countries follow this trend then people might choose to use bitcoin which can be more safe to them as well. They still support cash of course, but as much as possible they encourage their people to do online transactions or digital payments. Pro-bitcoin countries are yet to come, hopefully soon.

[xvids]

If I am not mistaken there is already a country that is cashless but being cashless or anti-cash doesn't really mean that they are pro-Bitcoin or crypto.
There are other payment method not just crypto and cash so we shouldn't really jump into conclusion that they are pro-Bitcoin or crypto now.
But let's hope that they would consider crypto or Bitcoin in the future.

[stompix]

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.

Is it really hard to get a bank account in Italy? Shouldn't be the case in an EU member country.

Of course it's not, but who is doing research nowadays before posting ?!

According to Banca Italia
in 2016 there were 14 mil credit cards and 44 million debit cards that at a population of under 50 million over 18 yo.

As for the %&^ who think that "this is great for bitcoin", do you honestly think that a government who wants more control and information over the people's money is going to encourage bitcoin usage? Once cash is killed bitcoin will be next in line.

Ther are two types of societies that go cashless
a) one where the people chose so because the fees are low, it's more convenient, like Sweden
b) one where the government is desperate to tax everything because of the budget holes, like Italy!

[karanggatak]

Anti-cash does not mean pro-bitcoin.

From what the Italian minister said, it looks like they want people to use debit and credit cards where all payments can be tracked (and thus taxed). Italy has a real problem with a mafia economy where everything is done in cash. It also has a problem with small businesses operating in cash and not declaring all profits, in order to evade paying tax.

Once you insist on electronic payments, it's easier to track actual revenue and tax it.

yes i agree with you anti cash does not mean pro with cryptocurrency. if I read the article there has been no official statement from the prime minister that they will use or support cryptocurrency. the Italian government limits the use of cash so that people switch to using debit or credit cards. The use of a debit card will make it easier for the Italian government to take tax from its citizens.

[Sadlife]

Italy is taking a big step in adoption i guess they dont want to be left behind in technology they're following the steps of china who is creating their own cryptocurrency back by gold to avoid USD backed fiats. There could be a chance that's not what they're after, but to counter money laundering by tracking their people and to tax them.

[Murat]

This scenario is not only in Italy, but it's also almost a common new trend about the using of cash money, Most of the government are not interested in using cash because they want to use digital payment system for their people, so far I know Spain has started a trend where a big amount of payment should be paid by digital payment system, not cash, I think Itali also will take as like this policy, In Europe, Other countries have taken such type of initiative regarding Cashless society, I think this type of steps is really fruitful for the cryptocurrency and Bitcoin.

[bitbollo]

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 it really hard to get a bank account in Italy? Shouldn't be the case in an EU member country.

Switzerland could be the first EU country to be cashless and officially accept cryptocurrencies.

Switzerland is not an EU country.

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...

[adjed]

Almost all countries in the world are making it harder and harder to use cash and this includes my country as well, I but this doesn't mean that they are really supporting Cryptocurrencies, it just means that they want people to make molre electronic transfers. Than using physical cash for transactions, this is more easier to track and tax than cash payments, but we all know that Cryptocurrencies are the next step in the evolution of money so it's just a matter of time until Governments around the world start jumping into the bandwagon and encouraging their citizens to use Cryptocurrency payments, which other payment method is cheaper and faster?

[peter0425]

lol anti cash?it not because they are welcoming crypto ..

we have been seeing European Countries starting to adopt crypto or Bitcoin specifically and this is best for all of us,but don't forget that fiat will still exist until the mas adoption happens in future.

[josephrioveros123]

I think that is good it is now being used for all the nations. Because with cash less transactions there are a lot of benefits and one of it is the prevention of crime like being robbed or hold up. It is much more applicable for the highly urbanize country or city where internet is every where.

But I think there are some limitation for that. I think it can only be use on the cities or places where internet is every where. Maybe peddlers won't have that cash less basis. Or some small business. And a lot of people in the remote areas in the province with out internet connection will not be able to trade with cashless basis. Maybe some are cashless because they barter. But the physical form of assets are still needed for trade at some places and it won't be replace by digital trading system.

[TastyChillySauce00]

Italy is taking a big step in adoption i guess they dont want to be left behind in technology they're following the steps of china who is creating their own cryptocurrency back by gold to avoid USD backed fiats. There could be a chance that's not what they're after, but to counter money laundering by tracking their people and to tax them.

There's no adoption though, they are just trying to reduce the usage of cash which gradually considered to be obsolete and is not convenient and it seems that they are instead switching to the digital payment or cashless society. Something to be expected when you can see all other parts of the world are doing the exact same thing and digital payment could be easily monitored since all transaction are recorded which is what government really need to when it comes to taxing.

[znation]

If their country is against cash and bitcoiun support is a good thing, according to their friend's article they only fight against cash starting next year but have not found information that they support bitcoin, but hi Hope they will quickly accept and support bitcoin in the near future.

[airdnasxela]

There is nothing stated that they are into cryptocurrency or the government of Italy is a pro-bitcoin. They're just limiting the use of paper cash in their country. I don't know the reason, I am not from that country but maybe they're just aiming to adopt cashless transactions. Maybe a part of innovation in their country? I also don't think it's appropriate to call it as a war on cash since it's still their own currency. I mean, why would they fight on themselves?

[alyssa85]

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 it really hard to get a bank account in Italy? Shouldn't be the case in an EU member country.

It isn't hard to get a bank account in Italy at all.

People use cash because they get a discount for using it (the vendor doesn't bother to charge VAT). Of course this upsets the government because they depend on VAT revenue.

[DreamStage]

Don't know if that's a complete good news overall.

More people will in fact start investing / buying Cryptocurrencies.
Price will get bigger and good for everyone. But what about the economy on Italy?

People will start getting poor, buy less and the economy will drastically decrease as people will tend to buy even lesser.

It can be a 2 knifed situation for them.