The European Union Imposes Draconian Cash Limits and Monitors All Cryptocurrencies: Towards a Supervised Digital Euro and the Loss of Financial Freedom
Rafa Gómez-Santos Martín
The European Union has announced a measure that will dramatically impact the financial lives of its citizens. Cash transactions exceeding €10,000 will be prohibited.
Furthermore, identity checks will be required for all cash transactions over €3,000.
All cryptocurrency transactions will also be monitored, regardless of the amount.
While the official rationale is to prepare for the introduction of the digital euro in 2030, this measure represents an unprecedented step toward authoritarian control.
Economic freedom and the financial autonomy of citizens are now at risk.
Anyone who wants to move their money will fall under state supervision.
This particularly affects family businesses, freelancers, and small shops, which depend on cash to operate.
The imposition of these restrictions could generate distrust and hinder economic activity.
Historically, similar policies have had severe consequences. In countries where currency was centralized and cash restricted, trust in money collapsed, capital flight increased, and social unrest grew.
This model strengthens state surveillance over citizens’ private lives.
Control over cash and cryptocurrencies also undermines the economic security of families, a fundamental pillar of social stability.