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Going Cashless in Australia: problems are growing





When the Currency (Restrictions on the Use of Cash) Bill 2019 was introduced to Parliament last year, it faced it's fair share of media headlines, backlash and criticism. To the relief of many, the law is now officially dead after failing to pass the senate.

The proposed laws

The laws proposed to create four federal offences relating to the use of cash, two of which apply regardless of whether an accused person was aware of any legal restrictions. Specifically, it would have made it a criminal offence to make cash payments over $10,000, punishable by a two-year jail term or a $25,000 fine.

But despite several amendments over as many months, the controversial bill did not pass in the senate, and has been shelved for now, in part, the Government says, because it's current response to Covid-19 remains a priority.

This doesn't mean that the bill won't return in some form or another down the track.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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