The European Union is introducing new anti-money laundering regulations that cap cash transactions at \u20ac10,000 for professional traders and service providers starting July 10, 2027. <\/p>\n
Cash will not be withdrawn from circulation, but its use for high-value transactions will be restricted. The basis for the changes is Regulation (EU) 2024\/1624 of the European Parliament and of the Council of May 31, 2024, on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing, known as AMLR.<\/p>\n
The regulation will generally apply from July 10, 2027. Because it is an EU regulation rather than a directive, its core norms will apply directly in member states, though countries must establish enforcement rules and penalties.<\/p>\n
Article 80 of the AMLR states that persons trading goods or providing services may accept or make cash payments up to a maximum of \u20ac10,000. In countries that have not adopted the common currency, the national or foreign currency equivalent will apply.<\/p>\n
This new restriction is broader than Poland’s current limit between entrepreneurs, as the EU regulation also covers situations where the seller is a business and the buyer is a consumer, impacting high-value purchases such as cars, jewelry, and art.<\/p>\n
Article 80 paragraph 1 mandates that multiple payments appearing to be linked must also be considered together, meaning splitting a payment into several installments will not bypass the limit if they arise from a single contract.<\/p>\n
The EU limit does not apply to transactions between private individuals acting outside a professional capacity, meaning private sales of used cars or home equipment are exempt unless one party is a professional seller.<\/p>\n
Member states may adopt lower limits after consulting with the European Central Bank and must ensure appropriate measures and penalties are applied to professional parties that violate the threshold.<\/p>\n
In Poland, Article 19 of the Entrepreneurs’ Law already requires business-to-business payments exceeding 15,000 PLN to go through a payment account, with tax consequences for non-compliance.<\/p>\n
Article 19 paragraph 4 of the AMLR requires obliged entities to apply at least basic customer due diligence measures for occasional cash transactions valued at \u20ac3,000 or more.<\/p>\n
Crypto-asset service providers must apply full due diligence for occasional transactions of at least \u20ac1,000, and anonymous crypto-asset accounts are strictly prohibited by the regulation.<\/p>\n
Parallel to the AML rules, the European Central Bank is preparing a digital euro pilot starting in the second half of 2027, though cash will remain a legal tender for everyday purchases.<\/p>\n
The digital euro project is separate from the anti-money laundering cash caps, and the ECB aims for readiness for a potential issuance by 2029 without eliminating traditional banknotes and coins.<\/p>\n","protected":false},"excerpt":{"rendered":"
The European Union is introducing new anti-money laundering regulations that cap cash transactions at \u20ac10,000 for professional traders and service providers starting July 10, 2027. New EU Regulation Restricts Large Cash Transactions Cash will not be withdrawn from circulation, but its use for high-value transactions will be restricted. The basis for the changes is Regulation […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wpai_generated_summary":"","footnotes":""},"categories":[40],"tags":[],"class_list":["post-17769","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/posts\/17769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/comments?post=17769"}],"version-history":[{"count":0,"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/posts\/17769\/revisions"}],"wp:attachment":[{"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/media?parent=17769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/categories?post=17769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizonews.com\/pl\/wp-json\/wp\/v2\/tags?post=17769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}