Cash has legal tender status

The re-election of Donald Trump has strengthened the influence of BigTech, fostering closer ties between tech giants and the U.S. government. As tech companies expand into financial services and cryptocurrencies, concerns about privacy, financial censorship, and dependence on digital infrastructure grow. Cash remains a crucial counterbalance, offering privacy, economic freedom, and resilience during crises.

Elsewhere on the Web provides updates and links to articles related to cash, money and payments curated on the web.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

Cash is essential in a well-functioning society, as it guarantees social cohesion, which is threatened by aggressive digitalisation, says Spanish pro-cash platform Denaria.

The end of the "cash era", announced by The Economist fifteen years ago, has not arrived. On the contrary, in a contactless but crisis-ridden world, cash is leaving wallets and taking refuge in mattresses.

The Riksbank calls for urgent action to strengthen cash's position and access, to guarantee financial and social inclusion, and to ensure civil preparedness. Retailers should be obliged to accept cash as payment for essential goods. Banks should be obliged to accept consumer cash deposits.

Insurance company Lloyd's of London warns that a major cyberattack on the global payments system could cost USD3.5 trillion. Can cash come to the rescue?

I attested how payment habits in France have changed during a recent visit to Paris. However, cash usage remains resilient.

Latest YouGov findings reveal 71% of the British public would support making it a legal requirement for businesses to accept cash.

The European Commission has put forward two proposals to ensure that euro-area citizens and businesses can continue to access and pay with cash, and to set out a framework for a possible digital euro.

The Slovakian Parliament adopted a law which will make the right to pay in cash part of the constitution.

The Finance Minister announced legislative proposals to ensure affordable access to both cash withdrawals and deposits. Meanwhile, the banking sector is requested to maintain adequate cash services.