EU Launches "Digital Wallet" In Latest Step Toward 'Cashless Society'

According to the FT, the EU is preparing to unveil its plans for the bloc-wide "digital wallet" on Wednesday. The product is the result of what Brussels described as several states' demands for the EU to create a digital tool to access important records and other products and services via the smartphone.

A digital wallet could store payment details and passwords, and allow citizens from all 27 countries to log into local government websites or pay utility bills or perhaps even merchants using a single recognized identity.


This is already starting to happen, with certain shops only accepting card payments since opening back up and saying to customers, that based on government advice, they are "going cashless" and will not be able to accept any cash payments for services "until it is safe to do so".

It is obvious therefore that they are capitalizing on the fear of the general believing public that has been created and using it as an opportunty for pushing forwards toward the goal of a cashless society.

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Is it legal for a business in the United States to refuse cash as a form of payment?

Cash or card – will COVID-19 kill cash?

Britain To Begin Banning Cash In Favor Of Digital Currency

July 14, 2017 Sean Adl-Tabatabai News, UK 1 Comment

Ban on cash to begin in UK

A credit card giant has vowed to completely eradicate cash in Britain by forcing shops and restaurants to only accept digital currency.

Visa says it wants merchants throughout the United Kingdom to begin rejecting notes and coins in order to make transactions “more secure.”

Daily Mail reports: Any switch from coins and notes to credit and debit card payments or services such as Apple Pay would also be of huge benefit to Visa, which makes money from transaction fees.

But consumer groups warned last night that it would put millions of elderly people and others who rely on cash and cheques at a huge disadvantage.

Tory MP Jacob Rees-Mogg said the firm should be referred to the competition authorities if it tried the move. ‘It is essentially the behaviour of a monopolist and I do not think it should happen,’ he said.

No cash till in bakery in Sweden.

Paying with Smart phone apps is booming in Sweden showing it being transferred from one phone to another relatively quickly. Most banks don't provide cash anymore saying it's to much trouble. It's as easy as a text message or email. Money has become digital information.

In Germany people are using more cards instead of cash due to thinking it's a safety net against catching covid-19. This couldn't be any more untrue than children should be vaccinated

Banker states cash doesn't spread the vrus as many have been led to think. " We know from research that bills and coins don't play any role in the spread of infections".

China’s shoppers are increasingly purchasing goods with just a turn of their heads as the country embraces facial payment technology.

In a country where mobile payment is already one of the most advanced in the world, customers can make a purchase simply by posing in front of point-of-sale (POS) machines equipped with cameras, after linking an image of their face to a digital payment system or bank account.

“I don’t even have to bring a mobile phone with me, I can go out and do shopping without taking anything,” says Bo Hu, chief information officer of Wedome bakery, which uses facial payment machines across hundreds of stores.

“This was not possible either at the earliest stage of mobile payment – only after the birth of facial recognition technology can we complete the payment without anything else,” he explains.

The software is already widely used, often to monitor citizens. But authorities have come under fire for using it to crack down and monitor dissent, particularly in the surveillance-heavy region of Xinjiang.

“There’s a big risk ... that the state could use this data for their own purposes, such as surveillance, monitoring, the tracking of political dissidents, social and information control, ethnic profiling, as in the case with Uighurs in Xinjiang, and even predictive policing,” says Adam Ni, China researcher at Macquarie University in Sydney........


Freedom ends with a cashless society – Digital Identity Bill

"Without cash, there is only a system of ‘government approved purchases’. Even if you don’t use cash, having it banned will mean the government can take complete control of you and access to your money at any time. The Trusted Digital Identity Bill aims to track every single purchase you make so they can cut you off whenever Government decides, this isn’t possible when you the option to use cash."

Brighteon – Freedom ends with a cashless society – Digital Identity Bill

The reason we have a Constitution is to enforce absolute boundaries and to stop politicians taking liberties with our liberties. The behaviour of government during COVID has shown everyone how quick many politicians and bureaucrats were to abuse rights and coerce citizens into undergoing unwanted medical procedures.

By its very existence, the Trusted Digital Identity Bill is a violation of our historic privacy laws and consumer protections.

Transcript is here: Freedom ends with a cashless society - Digital Identity Bill - Malcolm Roberts

These measures are happening worldwide.


Artificial shortage of coins and shortage of oil is the path to digital money

About scarcity, deliberately created for political and economic reasons, as the New World Order tries to put the squeeze on the likes of you and me.

“Two years ago, I predicted a global lockdown and identified the coronavirus as a biological weapon developed at Fort Detrick and released at the Wuhan War Games, saying that the virus would be used to discourage people from using cash.

The new world order is trying to push us towards cashless transactions – not only to keep track of every second, but also to be able to write us off at any moment. Now, over the course of two years, we have been watching this happen.

Entrepreneurs claim there is a shortage of coins that are reported to be carrying the coronavirus.

During the pandemic, the WHO officially warned people to use cashless payments, as banknotes can transmit Covid-19. The World Health Organization succeeded in sowing fear in a false flag attack through misinformation, which it later refuted by retracting its original position.

So the conspirators resorted to plan B: an artificial shortage of coins. However, that hasn’t stopped states like New Jersey from constantly warning against the use of cash.

Do you really think that the shortage of coins arose by itself? Or do you think the Federal Reserve is playing its usual game of having an international cabal of bankers printing money out of thin air and charging taxpayers interest causing inflation as it works to bring us into a one world government?

The coin shortage, like other shortages being considered in the course of current events, was deliberately created for specific political reasons.

If you listen to the UN, they see covid as a chance to change the world with their sustainable development goals. This is all part of the Great Reset and the Fourth Industrial Revolution.

This includes the war on fossil fuels as the UN tries to stop us from driving combustion engine cars by putting us on electric cars or, ideally from their point of view, driving us into cities where we are easier to control by forcing us to use public limited mobility for us and unlimited surveillance for them.

Biden, who briefly worked as a lawyer for my old firm before becoming a politician, has been very outspoken about his goals of destroying our independence as he forces us to move away from fossil fuels.

Of course, the oil companies shut down production as planned after the coronavirus hit, as people didn’t drive as much when the virus forced them to be indoors and online.

On the day of his inauguration, Biden canceled construction of the Keystone XL pipeline, shutting off a valuable oil source.

Then, seven days into his reign, Uncle Joe banned new oil and gas leases. As a direct result of the president’s actions, our country has become more dependent on foreign oil than ever before. In an effort to protect his shady investments in Ukraine by drawing us into a costly and win-win foreign war, Biden used his presidency to cut us off from the oil we used to import from Russia.

It is not surprising that gas prices in our country have reached record highs, since the blow dealt by a hypocritical and sanctimonious millionaire is being taken by ordinary people.

The only way Joe Biden, the UN and the New World Order can achieve their stated goals of moving away from fossil fuels is by making oil unaffordable to ordinary Americans who cannot afford to drive or heat their homes.”

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CASHLESS :heavy_dollar_sign::moneybag: :no_entry_sign: SOCIETY Right In Your FACE! / Hugo Talks

Revelation 13:17 – No Man Might Buy or Sell

1 Like Enters United States to Offer Crypto Trading Services

  • Initially, it will offer services in 48 states, excluding New York and Hawaii.
  • It will offer Bitcoin first and then expand to other popular cryptos.

Only a week after pulled out of Russia, the cryptocurrency exchange platform announced the launch of its services in the United States. It will offer crypto trading and storing services to traders of 48 states in the country. operates in Europe from its offices in London, Gibraltar, and Vilnius. For its expansion into the United States, the company formed a local unit, US, which is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business.’s US CEO, Steve Gregory, said: “Our expansion into the United States represents a milestone moment in the growth of as we introduce our simplified, intuitive web-based platform to one of the world’s most mature cryptocurrency markets.”
However, its services will not be available to the residents of the state of New York and Hawaii. But, the exchange promised to launch in these two states as well in the “coming months.”

Listing Major Cryptocurrencies

Initially, the platform will offer services only with Bitcoin , but it will add other popular digital currencies like Ethereum , Litecoin and Bitcoin Cash eventually.

It also promises fiat-to-crypto capabilities and a crypto wallet with fiat support. Traders can connect their bank accounts to its crypto wallet platform or use credit/debit cards for purchasing cryptos.

“Our mission is to help make it easy and safe for everyone to invest in cryptocurrencies. We make buying and holding cryptocurrencies so simple and intuitive that you no longer think of it as ‘cryptic’- it’s just new money,” Gregory added.

Blockchain Rock’: Gibraltar moves to become world’s first cryptocurrency hub

Territory’s financial sector risks reputational damage and diplomatic sanctions if complex regulations of crypto hub fail

On the southern Mediterranean coast, nestled in the shadow of the Rock’s sheer limestone cliffs and its tangle of wild olive trees, the Gibraltar Stock Exchange (GSX) is quietly preparing for a corporate takeover that could have global consequences for the former naval garrison.

Less than half a mile away, next to the blue waters of Gibraltar’s mid-harbour marina, the peninsula’s regulators are reviewing a proposal that would prompt blockchain firm Valereum to buy the exchange in the new year – meaning the British overseas territory could soon host the world’s first integrated bourse, where conventional bonds can be traded alongside major cryptocurrencies such as bitcoin and dogecoin.

It is a bold move for a territory of just 33,000 people, where the financial sector – which accounts for roughly a third of Gibraltar’s £2.4bn economy - is overseen by a regulator staffed by 82 employees. If all goes to plan, the enclave could become a global cryptocurrency hub; if the controls set by the small team of regulators fail, it risks reputational damage and ultimately diplomatic sanctions that could threaten its economy.
While countries including China and the UK have either banned or openly warned against investments in crypto assets, Gibraltar has bucked the trend, having committed to formally regulating cryptocurrencies in an attempt to future-proof the territory’s status as a financial hub.

It comes as Gibraltar struggles to shake off a reputation as a global tax haven, with the government having sued a Spanish newspaper in an attempt to restore its global standing.

Albert Isola, Gibraltar’s minister for digital, financial services and public utilities, says that while Gibraltar was a tax haven 20 years ago, the territory has now overhauled its tax and information sharing policies. The introduction of crypto regulation is having a similar effect: rooting out bad actors and providing assurance to investors, he says.

“If you wanted to do naughty things in crypto, you wouldn’t be in Gibraltar, because the firms are licensed and regulated, and they aren’t anywhere else in the world,” Isola says.

Gibraltar’s regulator has so far approved 14 cryptocurrency and blockchain firms for its licensing scheme, attracting the attention of ex-Sirius Minerals chairman Richard Poulden, who chose Gibraltar for Valereum’s crypto-exchange project. Valereum, he says, is trying to harness a cryptocurrency sector that is worth roughly $3.5tn (£2.6tn) – roughly the combined value of all companies listed on the London Stock Exchange.

Poulden is the chairman of Valereum, which is based in Gibraltar and focuses on providing technology for linking mainstream conventional currencies such as the pound and the dollar with crypto assets.

It will be a major task to overhaul an exchange that is currently staffed by only three employees, and will require a change in Gibraltar’s regulations to govern how crypto is going to be traded on the GSX. But Poulden says his firm is leaning on technology, rather than people, to weed out any bad actors.

He says running anti-money laundering checks on cryptocurrencies is “not vastly different from running it on currency from any any other source. And indeed, in some cases, because you can trace back through the blockchain and see exactly where that money has come from, it can actually be substantially easier than trying to find where a block of funds in a bank has come from.”

Other countries will be watching closely. Neil Williams, London-based deputy head of complex crime at Reeds Solicitors, ssays: “If it’s a success, you’d certainly think that other jurisdictions would look to follow, because it’s an ever increasing valuable commodity.”

However, experts have warned that Gibraltar could face sanctions by countries such as the US if its regulators end up giving legal approval to crypto firms that – even inadvertently – give a pass to money launderers, black market criminals or kleptocrats who prefer the anonymity of crypto assets.

It comes amid concern at major global financial regulators, including the Bank of England, over the rapid development of crypto assets and the potential consequences for consumer and investor protection, market integrity, money laundering and the financing of terror groups.

“It could enable or facilitate money laundering, sanctions evasion, terrorist financing, so everyone’s wary of that as well,” says Charlie Steele, a partner at forensic accounting firm and consultancy Forensic Risk Alliance and a former US justice department official.

“Regulators worldwide, almost all of them really, are approaching it from a position of deep scepticism … so it’s a little outside that strain of thinking for a country to welcome them in to buy a stock exchange.” .

A month before Valereum announced its bid for the GSX in October, the head of the US Securities and Exchange Commission, Gary Gensler, declared that as an asset class, crypto was “more like the wild west…rife with fraud, scams, and abuse in certain applications”, raising further concerns over the possibility of criminal funds seeping into the mainstream financial system.

Lax anti-money laundering (AML) controls have resulted in jurisdictions such as Malta being grey-listed by the world’s money laundering and terrorist financing watchdog (FATF), for lacking basic financial safeguards. It could seriously damage Malta’s economy and has been a stark warning for other countries and territories that might be tempted to let regulations slip.

Meanwhile, Singapore has had to U-turn on its approval for the standalone crypto exchange Bitget. It suspended the exchange earlier this month for promoting a digital currency involved in a high-profile dispute over branding, having used an unauthorised image of K-pop band BTS to allegedly maximise its profits.

“If this starts to look like everyone ran to Gibraltar to get away from real regulators, it’s going to not go well for them,” Steele warns.

If anti-money laundering or sanctions rules are broken or evaded, “there’s lots of things they could do, and lead internationally through the FATF, to make things hard on Gibraltar. You’ll see that the FATF can impose all kinds of measures, which will require its members to put limits on business with that country,” he adds.

But Gibraltar insists that it has welcomed crypto firms with its eyes wide open, having consulted on its regulation for the sector for four years before introducing it in 2018, helping it to secure a reputation as “Blockchain Rock”. By filtering through and licensing firms, says Isola, they weed out bad actors.

“I don’t understand how there can be any increased risk in Gibraltar, when you can go to any other European country today and run exactly the same business without being supervised, without being licensed, and without being regulated. So how can we be more exposed by regulating them? It’s completely the opposite,” Isola says.

He stresses that the country’s regulator has approved applications for only 14 firms over three years, a number that he claims speaks to the rigours of the licensing scheme. “It’s hardly a gold rush,” he says.


" You are young yet, my friend,” replied my host, “but the time will arrive when you will learn to judge for yourself of what is going on in the world, without trusting to the gossip of others. Believe nothing you hear, and only one half that you see

“The knee-jerk reaction for any commentator when it comes to blockchain-based innovations – particularly when it involves a small jurisdiction like Gibraltar – is ‘Oh my God, risk, alarm and all the rest of it,’” says Tom Keatinge, director of RUSI’s Centre for Financial Crime and Security Studies.“I do think it’s very important to understand the capacity of the jurisdiction before jerking knees, and the reason I say that is because of all the small jurisdictions on the planet, the one that has invested the most time and effort in understanding the opportunity posed by blockchain is Gibraltar.”

The Gibraltar Financial Services Commission declined to comment on the Valereum deal.

‘Blockchain Rock’: Gibraltar moves to become world’s first cryptocurrency hub | Cryptocurrencies | The Guardian :milky_way:

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Central African Republic Adopts Bitcoin As Legal Currency

The Central African Republic has adopted bitcoin as legal tender, the president’s office said Wednesday, becoming the second country in the world to do so after El Salvador.

Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc and legalised the use of cryptocurrencies.

President Faustin Archange Touadera signed the measure into law, his chief of staff Obed Namsio said in a statement.

The CAR “is the first country in Africa to adopt bitcoin as legal tender”, Namsio said.

“This move places the Central African Republic on the map of the world’s boldest and most visionary countries,” he declared.

But a leading opposition figure contested the vote and said that the move aimed at undermining use of the CFA franc.

The CAR is one of the planet’s poorest and most troubled nations, locked in a nine-year-old civil conflict and with an economy heavily dependent on mineral extraction, much of which is informal.

The text of the new legislation covers use of cryptocurrencies, and those who use them, in online trade, “smart contracts… by blockchain technology” and “all electronic transactions”.

Cryptocurrency exchanges are not liable to tax, it adds.

Martin Ziguele, a former CAR prime minister who is now an opposition MP, complained the bill was approved “by proclamation” and some legislators intend to file suit against it at the Constitutional Court.

“This law is a way of getting out of the CFA franc through a means that guts the common currency,” said Ziguele.

“It (the law) isn’t a priority for the country,” he said. “This move raises the question: who benefits from it?”

The CAR is one of six central African countries that share the CFA franc — a regional currency that is backed by France and pegged to the euro. Other members are Cameroon, Chad, Republic of Congo, Gabon and Equatorial Guinea.

Thierry Vircoulon, a specialist on central Africa at the French Institute of International Relations (IFRI) think tank, wondered if there was a link between the CAR’s close ties with Russia.

“The context, given systemic corruption and a Russian partner facing international sanctions, does encourage suspicion,” he said.

Russia’s search for ways to get around international sanctions is an invitation to be cautious.”

El Salvador became the world’s first adopter of the pioneering virtual currency on September 7.

The introduction was heavily criticised by the International Monetary Fund (IMF).

It warned of “large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection” and with issuing bitcoin-backed bonds.

Many regulators share those concerns, and other critics say that anonymised transfers using crypto are a perfect tool for traffickers and money laundering.

India effectively outlawed crypto transactions in 2018, only for the country’s top court to strike down the ban two years later.

China’s central bank in September declared all financial transactions involving cryptocurrencies to be illegal.

Huge swings in bitcoin’s price make it risky as a store of value and long transaction processing times make it impractical for small purchases.

After a relatively calm 2020, the cryptocurrency has experienced wild swings in 2021, surging from under $33,000 at the start of the year, peaking at over $67,000, before returning to $35,000 in February.

It was down 1.5 percent at 1400 GMT on Wednesday, trading at $39,328.14 (37,293.7 euros).

Despite reservations, there is also acknowledgement of the usefulness of digital currencies as a flexible monetary tool.

Major central banks are looking at the possibility of setting up a virtual currency in a regulated environment.

The CAR has experienced few moments of peace since it gained independence from France in 1960, and ranks 188 out of 189 countries in the UN’s Human Development Index, a benchmark of prosperity.

In 2013, the country plunged into a civil war that developed largely along sectarian lines.

The conflict eased after France intervened militarily and elections were held that were won by Touadera, although for years armed groups held sway over most of the CAR’s territory.

In 2020, a coalition of rebels advanced on the capital Bangui, threatening to overturn Touadera as new elections loomed.

Russia dispatched paramilitaries to help repel the threat and then recover much of the rebel-held territory.

The operatives are described by Bangui as military advisers but by France, the UN and others as mercenaries from the Kremlin-backed Wagner group, which has been accused of abuses.


Johnny's Cash and The Smart Money Nightmare

Johnny's Cash and The Smart Money Nightmare

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Over 500,000 Austrians demand ‘right to cash payments’ be added to country’s constitution

As central banks and globalist institutions rush to transition the world to digital currencies, Austrian citizens just delivered a huge grassroots rejection to ending cash.

More than half a million Austrians have signed a petition calling for a referendum on the constitutional enshrining of the right to unlimited cash payments. In a country of 8.9 million, the massive show of support for the “right” to pay with cash demonstrates the growing movement against digital currencies promoted by central banks across the world and institutions like the World Economic Forum (WEF).

The deadline for submission of petitions regarding proposals for seven national referendums ended on Monday. As reported by the Austrian daily Kurier, the right to cash payments received the most support of seven different petitions, with 530,938 Austrians signing it.

Only petitions that receive the signatures of 100,000 citizens or more can force a debate in parliament on the topic. Given the overwhelming support behind the “right to cash” petition, there may be strong pressure to move forward with an effort to secure cash payments in the country.

Unlike Greece, the U.K., Scandinavia, and the Benelux countries, cash is still king in Austria, Germany, and Switzerland, which have all bucked the trend towards a cashless society. In Austria, 50 percent of all transactions are still conducted in cash, far above the European average of approximately 30 percent. Germans are also against digital transactions, with just 9 percent saying they would use mobile payments.

The effort to enshrine the right to cash payments in the country’s constitution has already been a topic for a number of years, with the Austrian People’s Party (ÖVP) already suggesting making a constitutional change to protect cash transactions in 2019.

Austrians may be especially sensitive to the enormous state power that would come with a completely cashless society. The academic, author, and specialist in economic psychology Erich Kirchler said that World War II still influences the thinking of Germans and Austrians regarding the dangers of giving too much power to the state.

“In that case, the efficiency of state institutions becomes dangerous,” Kirchler told AFP.

German-speaking countries place a high value on privacy, and the fact that cash payments leave a minimal trace, makes it the most secure and private means of conducting transactions.

Other countries, such as Sweden, have enacted laws to ensure society continues to have access to cash and the ability to make payments in cash. However, if Austria enshrined the right to cash payments in the constitution, it would mark the most dramatic step yet in Europe to secure cash payments in the future.

Why protect cash?

Privacy and civil rights organizations have long advocated the right to cash with the argument that privacy, civil liberties, and finical security are at stake. Abolishing cash would force citizens to conduct all transactions through a digital medium, such as mobile payments, credit cards, or digital currencies. Banks and electronic mediums remain vulnerable to hack attacks and even natural disasters, for example, if the power grid were to be knocked out. The Swedish Civil Contingencies Agency, which is a part of the Ministry of Justice, warned in a report that a totally cashless society would be extremely vulnerable if the country were attacked or exposed to a natural disaster

For those concerned about privacy, such as those in Germany and Austria, digital payments give law enforcement and government authorities a direct window into all transactions.

Even more worrying for some, digital money could one day be linked to political and social behavior in Western countries in a social credit system, as seen in China. Already, during the “Freedom Convoy” trucker protests against Covid-19 policies in Canada, the left-wing government of Justin Trudeau took the unprecedented step of freezing the bank accounts of protesters. Although civil liberty groups decried the authoritarian action as a flagrant abuse of power, many critics worry that the action could now serve as a template to deal with protesters and dissent in the future. If dissidents and those critical of government cannot keep their money outside the digital space, then they will have nowhere to hide their finances should governments, like the one in Canada, take action against them.

The financial columnist and analyst Matthew Lynn wrote for the U.K.’s Telegraph in 2015 that the core issue for maintaining cash is the freedom it provides.

“More importantly, cash is about freedom. There are surely limits to the control over society we wish to hand over to governments and central banks? You don’t need to be a fully paid-up libertarian to question whether, in a world where we already worry about the amount of data that Facebook and Google can gather about us, we really want the banks and the state to know every single detail of what we are spending our money on and where. It is easy to surrender that freedom — but it will be a lot harder to get it back.”

On the other end of the spectrum, globalist institutions like the World Economic Forum have long lobbied for a cashless society and have routinely run articles such as “Why we should try to make cash obsolete,” “The benefits of a cashless society” and “Should cash be abolished?” Back in 2017, economist Joseph Stiglitz called for banning all paper currency in the United States, a position the WEF also positively reported on. Central banks across the world are also currently “leading the way” in the race to institute digital currencies. Although digital currencies and physical currency are expected to run in tandem for many, numerous globalist think tanks and economists are pushing for a complete phase out after an adjustment period.

The debate over cash is expected to rage on, but Austria’s case may not only demonstrate the societal challenges of abolishing cash but also the problems associated with countries giving up their national currency. Some critics point to the fact that Austria’s national currency is the euro may jeopardize the entire effort to secure cash payments. After Austria gave up its own national currency, the schilling, in 2002, it lost a considerable amount of control over its own finances. If the EU were to mandate a digital currency, Austria may be able to carve out a temporary exception, but may ultimately have little power to reject such a mandate.

Cheques are to be phased out in Gibraltar by December 2023. The Gibraltar Bankers Association says it has taken the decision after consulting its members.

It says over the years, the use of cheques has reduced significantly and today most consumers as well as businesses use electronic means or cards as the preferred and more secure form of payment.

It says there is a small minority of consumers who still use cheques but the small volumes means it is no longer viable for Banks to support the outdated systems required to support the provision and clearing of cheques.

As a result, cheques will no longer be accepted by Banks with effect from the 31st December 2023.

The GBA says with a generous lead in time, Banks will work with those more vulnerable or exposed to this change to ensure they are supported in the transition.

It says it has also consulted the Financial Services Commission and the Ministry of Financial Services ahead of making this decision.

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A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs).

In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria - roughly 34 million adults aged 18-60, own bitcoin or other cryptocurrencies. But when it came to the country's Central Bank Digital Currency (CBDC), the eNaira, it was a massive failure.

According to Bloomberg, only 1 in 200 Nigerians use the eNaira - despite government implemented discounts and other incentives, implemented as desperate measures to increase adoption.

Now, the government is looking to boost digital payments by limiting ATM withdrawals to just 20,000 naira, or roughly US$45 per day, Bloomberg reports, citing a circular sent to lenders on Tuesday. The previous withdrawal limit was 150,000 naira (US$350).

Weekly cash withdrawals from banks are now limited (without fee) to 100,000 naira (US$225) for individuals, and 500,000 naira (US$1,125) for corporations. Any amount above this will incur a fee of 5% and 10% respectively.

The action is the latest in a string of central bank orders aimed at limiting the use of cash and expand digital currencies to help improve access to banking. In Nigeria’s largely informal economy, cash outside banks represents 85% of currency in circulation and almost 40 million adults are without a bank account.

The central bank last month announced plans to issue redesigned high value notes from mid-December to mop up excess cash and it’s given residents until the end of January to turn in their old notes. The bank also plans to mint more of the eNaira digital currency, which was launched last year but has faced slow adoption. -Bloomberg

What's more, new rules which will take effect Jan. 9 will ban the cashing of checks above 50,000 naira (US$112) over-the-counter, and 10 million naira (US$22,480) through the banking systems. Point-of-sale cash withdrawals have been capped at 20,000 naira ($45).

Meanwhile, banks are only allowed to load their ATMs with 200 naira denominations and under, while individuals and corporations will be allowed to cash a maximum of 5 million and 10 million naira respectively if there are "compelling circumstances not exceeding once a month," and which will be subject to enhanced due diligence along with processing fees, according to the central bank. Such withdrawals will also require the approval of a bank CEO.

"Customers should be encouraged to use alternative channels—Internet banking, mobile banking apps, USSD, cards, POS, eNaira to conduct their banking transactions," said the central bank on Tuesday.

Under the guise of anti-money laundering, the EU sets limits to crypto and cash transaction.

Anti-money laundering: Council agrees its position on a strengthened rulebook

The new EU anti-money laundering and combating the financing of terrorism (AML/CFT) rules will be extended to the entire crypto sector, obliging all crypto-asset service providers (CASPs) to conduct due diligence on their customers. This means that they will have to verify facts and information about their customers. In its position, the Council demands CASPs to apply customer due diligence measures when carrying out transactions amounting to €1000 or more, and adds measures to mitigate risks in relation to transactions with self-hosted wallets. The Council also introduced specific enhanced due diligence measures for cross-border correspondent relationships for crypto-asset service providers.

Third-party financing intermediaries, persons trading in precious metals, precious stones and cultural goods, will also be subject to the obligations of the regulation, as will jewellers, horologists and goldsmiths.

By limiting large cash payments**,** the EU will make it harder for criminals to launder dirty money. An EU-wide maximum limit of €10.000 is set for cash payments. Member states will have the flexibility to impose a lower maximum limit if they wish.

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It’s Worse Than We Thought! (THIS CHANGES EVERYTHING!)