There is similar law in Ukraine for quite a long time. Everyone just ignore this law..

I bought flat for cash in USD not even in local currency. Car were bought in cash in severL transactions to be below limit. Part of payments were in foreing currency.

It only consumers who became affected. Less protection from law in case of fraud. By documents car price were 10 times less You pay.

Meanwhile this law has not prevent any corruption or apply any incovients to local barons.