Cash is still king. I don't want to live in a society where few corporations and banks have control over the money supply.
That law was passed in 1970. The amount hasn't been adjusted since then. It would approach $80,000 today if it had been indexed for inflation.
Don't know about you, but I don't foresee anyone sponsoring legislation to relax these reporting requirements, or otherwise making it easier to conduct private cash transactions with anything but toy amounts of money.