Mostly people who are ‘investing’ in houses. For instance it is legal to use profits from the sale of property to buy more property and not pay taxes on that income as long as it’s done within the same calendar year in most US states.
People who have lived through numerous economic crashes and bank closings. In Eastern Europe, cash in EUR and USD has good reputation, despite efforts by governments to bully people out of paying with cash altogether.
Whilst I’m all for cash usage, who is paying for a house with cash?
Mostly people who are ‘investing’ in houses. For instance it is legal to use profits from the sale of property to buy more property and not pay taxes on that income as long as it’s done within the same calendar year in most US states.
Why would you do it with cash though? It’s pretty uncomfortable to walk around with a luggage filled with 500,000€
AFAIK wire transfers are still considered cash transactions.
That’s not what this law is about. This is about banning the use of banknotes for large transactions.
People who have lived through numerous economic crashes and bank closings. In Eastern Europe, cash in EUR and USD has good reputation, despite efforts by governments to bully people out of paying with cash altogether.