This law prohibits you from doing that without reporting it.
You'd have report that anyway, when filing your taxes, so apart from some extra admin work, that's not much of an extra hurdle, assuming it honest money.
If you receive your €10k as payment for a shipment of cocaine, you probably don't want to report it, so then you'll enter the territories of fiscal crime.
(a) payments between persons who are not acting in a professional function;
(b) payments or deposits made at the premises of credit institutions, electronic money institutions and payment institutions. [...];
(c) central banks when performing their tasks.
It's not that you would have to report it - you just cannot do it.
If you receive your €10k as payment for a shipment of cocaine, you probably don't want to report it, so then you'll enter the territories of fiscal crime.