The Financial Privacy and Cash Preservation Act

Art. 1.

For the purposes of this Act:

1. Retail CBDC: A digital liability of the Central Bank or monetary authority that is made directly accessible to the general public.

2. Programmable Money: Any form of currency incorporating code or logic that allows the issuer to restrict its use based on external conditions, limit the types of goods purchasable, set expiration dates, or automate deductions (negative interest rates) without the user's specific consent per transaction.

3. Self-Custody: The practice of holding financial assets where the individual controls the private cryptographic keys or physical instrument, without a third-party intermediary having the technical ability to freeze or seize funds.

Art. 2.

1. Legal Tender Status: Physical currency (banknotes and coins) issued by the Central Bank constitutes legal tender. Its acceptance for the settlement of debts and payment for goods or services offered in physical retail locations is mandatory.

2. Prohibition of Discrimination: It is prohibited for brick-and-mortar businesses to refuse cash payments for transactions under $500 (or equivalent) or to charge additional fees for the use of cash.

3. Exceptions: This mandate does not apply to:

a) Online transactions or unmanned automated kiosks;

b) Strict Security Exception: Refusal is permitted ONLY during solo shifts between the hours of 11:00 PM and 6:00 AM, OR where cash accumulation on premises exceeds specific limits defined by the enterprise's insurance policy (proof of such policy limits must be available for inspection). General claims of "safety concern" without documentation do not justify refusal.

Art. 3.

1. Prohibition of Issuance: The Central Bank is prohibited from issuing, piloting, or implementing a Retail CBDC. Any digital currency project funded by public money must be open-source and audit-proven to prevent central surveillance.

2. Ban on Programmable Money: Under no circumstances may public money be programmed with logic that restricts lawful commerce or imposes behavioral conditioning.

Art. 4.

1. Abolition of Bulk Surveillance: The requirement for financial institutions to automatically report transactions to government agencies solely based on a monetary threshold (e.g., the $10,000 threshold) is hereby repealed for personal accounts.

2. Probable Cause Standard: Financial institutions shall report transaction data to authorities ONLY when:

a) There is a specific judicial warrant targeting an individual or entity; OR

b) Specific, articulable facts indicate criminal activity (money laundering, fraud, terrorism financing) distinct from the mere amount of funds involved.

3. Protection of Self-Custody: The possession, use, and transfer of non-custodial wallets (hardware or software) shall not be criminalized, subjected to special licensing, or restricted by transaction limits different from those applied to cash.

Art. 5.

1. Retail Violation: Failure to accept cash (Art. 2) is a civil infraction punishable by a fine of up to $500 per incident. A pattern of systemic refusal (more than 3 incidents) may result in the suspension of the business license.

2. Institutional Violation: Financial institutions reporting data in violation of Art. 4 (Privacy) shall be liable for statutory damages of $10,000 per violation to the affected customer.

3. Accountability for Officials: Any public official who authorizes or implements a Programmable CBDC in violation of Art. 3 commits a Gross Violation of Public Trust. Such act shall constitute grounds for immediate impeachment, disciplinary dismissal, and a permanent ban from holding public office. Following the removal of immunity, criminal charges for abuse of power shall be filed by the state prosecutor.

EXPLANATORY MEMORANDUM (EXPOSÉ)

1. THE PROBLEM

We are witnessing a "War on Cash" and a dangerous drift toward a cashless surveillance state. Governments are developing Central Bank Digital Currencies (CBDCs) capable of programming money—potentially dictating what citizens can buy. Furthermore, current laws treat every citizen as a suspect, with innocent transactions over arbitrary thresholds ($10,000) automatically reported to the state, creating a "haystack" of data that fails to catch real criminals while violating the privacy of millions.

2. THE OBJECTIVE

This Act re-establishes the presumption of innocence. It ensures cash remains a mandatory option for daily life, closing loopholes used by businesses to discriminate against unbanked citizens. It explicitly bans "Programmable Money" used for social engineering and protects the right to hold one's own assets (self-custody).

3. COMPATIBILITY & STANDARDS

Critics argue that removing threshold-based reporting conflicts with international AML standards (e.g., FATF). However, mass surveillance has proven inefficient ("alert fatigue"). This Act shifts the paradigm from "Bulk Collection" to "Targeted Intelligence." Financial institutions retain the duty to report suspicious activity (SARs) but are relieved of the costly burden of reporting routine legitimate transactions. This reduces compliance costs for banks and aligns enforcement with constitutional protections against unreasonable search and seizure.

4. EXPECTED IMPACT

Adoption of this Act will secure economic autonomy. It forces the state to respect due process (warrants) before accessing private financial records. It creates a robust accountability mechanism: strictly prohibiting officials from deploying surveillance currencies under penalty of permanent exclusion from public service, ensuring that technological progress serves democracy, not technocracy.