Norfolk County Council is adding its voice to growing municipal opposition against a proposed federal amendment that could criminalize large cash transactions.
That was Norfolk councillor Chris Van Paassen.
He put a motion on the floor for council to show their support with the Township of Otonabee-South Monaghan, who originally pushed back against it.
Section 77.5(1) of Bill C-2, a federal bill that aims to amend the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
The contentious section of the bill would make it a criminal offense for any business, profession, or charitable organization to accept $10,000 or more in cash – whether as a single transaction or in multiple related transactions.
The resolution argues that the proposed threshold of $10,000 is arbitrarily low and that legitimate industries – including agriculture, automotive, and charitable sectors – routinely process lawful transactions at or above that amount in cash.
Critics of the bill say it would impose significant compliance burdens and disproportionately impact those without access to digital banking services.
The original motion warns that the bill could stifle economic activity, discourage charitable giving, and infringe upon Canadians’ fundamental right to use cash.
As part of its endorsement, Norfolk County will now send formal letters of support to the federal government, Ontario’s Minister of Finance, and several national and provincial organizations.
With rising concerns about privacy, rural access to banking, and the digitization of all financial transactions, the issue is gaining traction beyond council chambers.
Written by Matt Leblanc