Eu sets new cash limit of €10,000 for transactions

The European Union has announced a significant crackdown on cash transactions, introducing a limit of €10,000 for commercial dealings. Starting from July 10, 2027, any payment exceeding €3,000 will require identification and authentication.

Move aimed at curbing criminal activities

The new regulation, part of the EU's anti-money laundering and terrorist financing efforts, aims to prevent the misuse of physical currency for illicit purposes, such as tax evasion, corruption, and narcotics trafficking.