Australian Senate axes plans to ban cash usage above $10,000

australian-dollars

The Australian government has shelved plans to ban cash transactions of A$10,000 (US$7,730) or more, after its legislation was rejected by the Senate.

The Currency (restrictions on the use of cash) Bill 2019 would have prohibited large cash payments and jailed those who evaded the ban.

At the beginning of December 2020, the Australian Senate voted to discharge the bill from discussion following a motion from the country’s far-right One Nation party.

The bill was first introduced to the House

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