[Gigachad]

That wouldn't help in the situations described in the article. For example where individuals buy drugs with small amounts of cash, then that cash is used to buy things like luxury watches and iphones, then those items are taken overseas and sold.

Seemingly the only effective way to solve this would be to ban purchasing highly resellable items with cash and requiring that cash to be deposited in to the system first.

[tony69]

In Italy, it’s illegal to pay in cash anything over 5000 euros

[y-curious]

Ok, but 5 smurfs buying 5 €4999.99 watches is still €25k

[Gigachad]

Sure but presumably you could buy as many $4000 handbags and watches as you want. If it’s not being tracked it would be hard to pick up.

[Fire-Dragon-DoL]

You cannot have a transaction in cash of that size. Loundring is about converting the dirty cash back to normal money, but the idea is to force you to go through a bank