The Netherlands Is Considering Cash Bans on Payments Over EUR €3,000

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The Dutch government has made legislative proposals to tighten the AML regime in the country.

Such proposals include:

final implementation of the beneficial ownership register.
a ban on the payment of luxury goods worth over EUR €3,000 from 2021.
ban on the use of EUR €500 banknotes.
the introduction of the regulation in relation to the activities of the cryptowallet suppliers and cryptocurrency exchanges.
disclosure of information about clients to financial institutions and investigative bodies.