The brazilian government can choose to start taxing every single pix transaction at any time. Due to the electronic and centralized nature of the system, such taxes would be utterly inescapable. The only thing stopping them is the sheer unpopularity of such an action.
It's already being used for data cross referencing, tax collection and investigation purposes. There are plans to implement into these payment systems pretty much everything that cryptocurrency maximalists warned us about. It's a convenient system but at the same time quite dystopian.
This argument works against all payment systems that are conceivably bannable (likely all of them). If a payment system doesn't collaborate, the government can ban it.
> The only thing stopping them is the sheer unpopularity of such an action.
This is the intended functioning of democracies I guess.
The brazilian government can choose to start taxing every single pix transaction at any time. Due to the electronic and centralized nature of the system, such taxes would be utterly inescapable. The only thing stopping them is the sheer unpopularity of such an action.
It's already being used for data cross referencing, tax collection and investigation purposes. There are plans to implement into these payment systems pretty much everything that cryptocurrency maximalists warned us about. It's a convenient system but at the same time quite dystopian.
This argument works against all payment systems that are conceivably bannable (likely all of them). If a payment system doesn't collaborate, the government can ban it.
> The only thing stopping them is the sheer unpopularity of such an action.
This is the intended functioning of democracies I guess.
Nothing stops US government from doing the same to Visa/MasterCard networks.
Not really coming from the US gov but it already happens in very weird ways:
https://www.pushkin.fm/podcasts/hot-money/episode-8-inside-p...
FWIW credit/debit card transaction fees are capped in the EU/SEPA, to 0.3% for credit and 0.2% for debit. 3% is absurd.