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This doesn't apply to private transactions, by the way.
Off the top of my head, I can't think of a single example of a legitimate legal business that would be done using cash in that amount.
So while there's definitely a danger of the rules being tightened over time, this specific change here doesn't raise my concern too much.
What bothers me more is the utter lack of any effective measure against the true problem in tax fraud โ those who do it at a truly large scale still get away without any punishment or control, and in fact sit at the table when the tax laws are written.
Does this apply to, say, purchasing a house?
Whilst I'm all for cash usage, who is paying for a house with cash?
People who have lived through numerous economic crashes and bank closings. In Eastern Europe, cash in EUR and USD has good reputation, despite efforts by governments to bully people out of paying with cash altogether.