that is not that large of an amount
People’s weekly paychecks are bigger than that!
Rent payments bigger than that, mortgages, car payments and some cases cable bills, cellphones etc.
This is the balloon to float how difficult it would be unless everything goes fully digital. This is about the push for digital currency.
So help me understand something. Today, I get a paycheck direct deposited to the bank. I pay my bills with ACH transfers. I make most purchases on a credit card I pay off (electronically from my bank) every month. On rare occasions I actually write a paper check. So except for some cash I keep for emergencies, what about the way we do business today is not already 'digital'?
I really dont understand the distinction.
All of the above said, I dont like the idea of more government snooping in my accounts. They already get their 1099's and tax statements from the financial institutions.