Commenting from a US perspective, where we don't have this limit.
IMO, the only time this causes issue is when transacting private-to-private sales of big ticket items. Most likely something with a title (cars, boats, ATVs, trailers, etc, etc).
I really despise having to bring thousands of dollars of cash to buy a vehicle, but right now there just isn't a better way to do it. Sign the title, exchange the cash, and it's essentially a 100% guarantee the transaction works.
With a limit like this you need an arbitrator. Right now, there simply isn't a good way to do that.
IMO, the only time this causes issue is when transacting private-to-private sales of big ticket items. Most likely something with a title (cars, boats, ATVs, trailers, etc, etc).
I really despise having to bring thousands of dollars of cash to buy a vehicle, but right now there just isn't a better way to do it. Sign the title, exchange the cash, and it's essentially a 100% guarantee the transaction works.
With a limit like this you need an arbitrator. Right now, there simply isn't a good way to do that.