alt Hacker NewsYou mean they implemented laws under the guise of "money laundering".
They just want to track what you spend your money on, that's step one. Step two is to restrict what you can spend your money on, although this is a partial side effect of part 1.
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Actually the privacy legislation in Italy is pretty strong. With the gdpr, banks have more challenges to do what they do with data in the US. Government might be tracking everybody, the goal of the law for sure is that.
It's hard to say what happens with all of that.
> Step two is to restrict what you can spend your money on
Where do people get these ideas? How do they sincerely hold them?
No non-religious government wants to restrict what you can spend your money on. They want to get a cut of your money, but otherwise it's strictly better for them if you spend as much of it as possible.
If they don't want you to have things, they just attack those things directly, like hard drugs or weapons. No need to restrict your ability to purchase.
You're onto something, but from some Romanian local investigations and public statements into similar cluster of laws [0], it's just something banks lobby for, so they can have more control and consolidate their place in any transaction chain. Maybe govt benefits a little, but when you see limited cash withdraws or commercial transactions requiring a bank system, it's usually private gains at play.
[0] (Romanian article) https://economedia.ro/parlamentarii-usr-au-depus-un-proiect-...