Cash transactions involve the exchange of physical currency for goods or services, representing a direct transfer of value without intermediaries. These transactions typically occur instantly and provide a high degree of anonymity. They contrast with digital transactions, which rely on electronic systems and often leave an auditable record.
Context
In the context of digital assets, cash transactions often serve as an on-ramp or off-ramp for converting fiat currency to cryptocurrency and vice versa, particularly through crypto ATMs or peer-to-peer exchanges. Regulators scrutinize large cash transactions due to their potential for illicit activities, prompting discussions on how to apply similar oversight to digital asset conversions involving physical money.
State-level enforcement validates the Digital Financial Assets Law, mandating immediate operational recalibration for VASP fee structures and AML/KYC controls.
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