EU bans cash payments over €10,000 starting July next year

The European Union (EU) will ban cash payments exceeding €10,000 starting in July next year. This measure is aimed at preventing money laundering and the financing of terrorism, in accordance with the EU anti-money laundering regulations adopted in 2024. According to the new regulations, businesses will not be able to accept cash transactions over €10,000, and customer identity verification will be required for one-time cash transactions exceeding €3,000. Non-commercial transactions between individuals and bank deposits and withdrawals are exempted. While the restriction on cash usage may increase interest in digital payment methods, it remains uncertain whether it will lead to a rise in Bitcoin demand. The EU is strengthening regulations on related businesses through the Digital Markets Act, and the likelihood of Bitcoin being used as a means to circumvent cash regulations is low. This regulation can be seen as a process to enhance the transparency of high-value transactions and strengthen the management system for the movement of funds.

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