Bitcoin can be very useful for Greece with its new harsh law

The Greek authorities decided to introduce a new law requiring citizens to spend electronically at least 30% of their income. Harsh fines await the disobedient. Perhaps these innovations will push the Greeks to a more active use of bitcoin.

It is possible that in the near future the inhabitants of Greece will begin to switch to bitcoins in a larger mass order. The new plans of the authorities can push them to do this. The Greek government intends to severely penalize those who will not spend in the form of digital payments 30% of their income.

In a situation when citizens are forced to make payments strictly in electronic form under the penalty of a fine, a logical question arises: will Bitcoin be the optimal solution for all interested parties?

According to the plans of the Greek government, the new law will oblige citizens to spend electronically 30% of their income. If the Greeks does not fulfill this norm, they will be fined an amount of 22% of the shortage. The authorities considered credit and debit card transactions as well as bank transfers to be acceptable means of electronic payment.

A law aimed at combating mass tax evasion and should enter into force next year. As authorities expect, this measure will help attract more than $ 800 million to the treasury. This is just one of the initiatives proposed by the government of Prime Minister Kyriakos Mitsotakis as part of a radical reform of the national tax system.


At the moment, cash transactions are still extremely popular in Greece. With their help they pay out salaries, pay utility bills and rents. Moreover, tax evasion is considered almost as a national sport in the country, in which citizens show miracles of ingenuity.

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