1996-12-24 - RE: Legality of requiring credit cards?

Header Data

From: Mike Topalovich <TOPALOVICH@terraglyph.com>
To: “‘cypherpunks@toad.com>
Message Hash: 8362db2cdf5f06655b36e95dfb5bbe0937066564367b2e41dcb223a633422756
Message ID: <c=US%a=%l=TGIEXCH-961224155706Z-2446@TGIEXCH.terraglyph.com>
Reply To: _N/A

UTC Datetime: 1996-12-24 15:55:36 UTC
Raw Date: Tue, 24 Dec 1996 07:55:36 -0800 (PST)

Raw message

From: Mike Topalovich <TOPALOVICH@terraglyph.com>
Date: Tue, 24 Dec 1996 07:55:36 -0800 (PST)
To: "'cypherpunks@toad.com>
Subject: RE: Legality of requiring credit cards?
Message-ID: <c=US%a=_%l=TGIEXCH-961224155706Z-2446@TGIEXCH.terraglyph.com>
MIME-Version: 1.0
Content-Type: text/plain

>	Not always true.
>	Go shopping with a wad of $100.00 bills.   Most stores don't
>	accept them, regardless of the amount of purchase, without
>	additional ID.   
>	Try buying a new car, paying for it with $100.00 bills.
>	You might enjoy filling out the paperwork that is required
>	to do so.  

It's not necessarily because you are paying with $100 bills.  The IRS
requires banks and other businesses to report all cash transactions
exceeding $10,000 by means of a Currency Transaction Report (CTR).  This
is a way for the IRS to track money laundering.  There happens to be two
lines on the form asking for the number of $50 and $100 bills, but those
lines are optional.