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EU Legislation to Facilitate Access and Acceptance of Cash

Categories : Cash has legal tender status, Cash is a public good, Cash is a symbol of national sovereignty
March 24, 2023
Tags : Acceptance of cash, Access to cash, Europe, Regulation
Could legislation contribute to the modernisation of the cash cycle by encouraging the adoption of new technologies and business models?
Guillaume Lepecq

Chair, CashEssentials

This post is also available in: Spanish

Federico Regaldo
Legal Counsel Belgium & Italy – 360 Business Law

This post is also available in: Spanish

The mantras of the “Next Generation EU” project (“Make it Green,” “Make it Digital, “Make it Healthy,” “Make it Strong,” “Make it Equal”) might seem, at first sight, to lead directly to the adoption of a digital euro and the disappearance of cash.

However, the use of cash is entirely compatible with the Next Generation EU project, provided that a profound modernization of the cash cycle occurs. Instead of being perceived as an obstacle, EU legislation could be considered a tool for modernization.

Cash Can Be Seen as “Green,” “Digital,” “Healthy,” “Strong,” and “Equal.”

There is no perfect substitute for cash, and an efficient monetary landscape necessarily includes cash. Consequently, it is essential to ensure it remains viable and sustainable in the future. This requires progress in three key areas:

We could solve all the above challenges by combining technology, new business models and regulation.

A Win-Win-Win Situation

Such legislation could generate the following benefits:

For retailers:

For financial institutions:

For society:

This legislation would have positive repercussions for the entire payments ecosystem.

Please share your thoughts on the need to promote EU legislation to facilitate the access to and acceptance of cash.


This post is also available in: Spanish