Brickbat: Cashed Out

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New Israeli Shekels

An Israeli law took effect this week banning cash transactions of more than 6,000 NIS (about $1,700). Officials said the goals of the law are to increase tax compliance and to reduce money laundering. Israel’s Finance Ministry said it plans to seek a law banning residents from holding more than 50,000 NIS (about $14,500) in cash.

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