Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
The Italian government’s draft budget for 2023 will increase the ceiling for cash payments to €5,000 ($5,280), despite criticism from a Bank of Italy official.
Under current law, Italians may use cash for payments of up to €2,000, but this ceiling had been set to fall to €1,000 from January 1. The new budget will instead raise that limit.
The amendment would also allow merchants to refuse to accept digital payments for transactions up to €60. Currently, merchants must accept electronic
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