Regulation

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

Visa and Mastercard will pay $197 million to settle a case brought by millions of consumers who withdrew cash from ATMs and accused the companies of anti-competitive behaviour.

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.

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.

The Financial Services and Markets Bill 2002 would allow HM Treasury to designate firms to be subject to oversight to ensure the continued provision of cash services. The Bill would also give the Bank of England powers to oversee the wholesale cash industry.

Could legislation contribute to the modernisation of the cash cycle by encouraging the adoption of new technologies and business models?

The European Council proposed to impose a limit of €10,000 on cash payments throughout the bloc, but the measure has yet to be accepted.

Two articles by leading economists announce the swan song for bitcoin. Both have triggered a spate of reactions. Here is what they have in common.

The Queen's Speech, delivered on 10 May 2022, promises legal protection for access to physical cash. But scratch beneath the surface and the promise contains the seeds of the continuing destruction of physical cash.

The newly adopted Consumer Protection Law allows consumers the freedom to pay in cash. Authorities will sanction retailers for refusing payments in cash.

The U.S. House Committee on Financial Services passed the Payment Choice Act of 2022, a bill designed to protect the right of consumers to pay with cash at brick-and-mortar retailers.