European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
The European Parliament, the Council of the EU and the European Commission have reached a political agreement to eliminate the unjustified blockade of a geographical principle for Internet users, which is an important part of building a digital single market for Europe, the EC press service said.
"Removing unjustified blocking on a geographic basis is a huge step forward for consumers and for building a true Digital Single Market for everyone.After abolishing the roaming charges and portability of content, now EU citizens will be able to buy their new furniture online, to book a hotel or use their credit card across borders as if they were at home, "commented Digital Gabriel EU Commissioner for Digital Economy and the Digital Society, Maria Gabriel.
Geographic blocking is a commercially used discriminatory practice where online vendors refuse users access to a website based on their location or forward them to a local store with differing prices. Such blocking means that, for example, customers who hire a car in a particular Member State can pay more for the same car rental service for the same destination. The Regulation on the Elimination of Unjustified Geographical Blocking was proposed in May 2016. and was cited as a legislative priority in the joint declaration of the three European institutions this year. The new rules must be approved by the Council and the European Parliament and will enter into force nine months after their publication in the Official Journal of the EU.
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