Regulation

The Consumer Choice in Payment Coalition (CCPC) is a U.S. group of businesses and consumer groups that have come together to advocate for consumer choice and for preserving the right of all consumers to use cash to pay for goods and services in the marketplace.

A survey shows that the majority of Spaniards view access to cash as important in times of crisis. Meanwhile the government is proposing to lower the limit on cash payments and advocate its elimination altogether.

In Sweden, new legislation was enacted on 1 January requiring banks to provide cash services. The UK Treasury has announced it would also introduce new regulations to protect access to cash.

In the latest move to promote digital payments, the Indian tax authority has announced that from February 2020, retailers with annual sales exceeding Rs 50 million ($700,800) will be fined Rs 5,000 ($70) per day if they fail to provide solutions for the acceptance of digital payments.

The Japanese government introduces incentives to promote electronic payments. The measure consists in a point-of-sale discount if approved digital payment are used. It poses challenges for the elderly and small shops.

Earlier in November, a Greek draft tax bill proposed to lower the limit for cash payments in from €500 to €300. The ECB declares that the threshold is disproportionate in light of the potentially adverse impact on the cash payment system.

An increasing number of countries are taking a close look at the evolution of their cash infrastructure to ensure the future continuity of cash services, particularly as commercial banks optimise their branch and ATM networks. Other countries are taking measures to restrict cash usage.

One country, two systems: China's central bank is set to introduce a new digital currency that will initially sit alongside cash.

The Italian government is considering measures to reduce cash usage with the aim of fighting against tax evasion.

Efforts to ban cashless retail are gaining momentum across the US. After Philadelphia, New Jersey, San Francisco, Massachusetts, and other cities and states have taken action to guarantee the acceptance of cash. In total there are 11 bills currently approved or making their way through the legislative process.

The Dutch government is putting forward a package of measures to Parliament, aimed at fighting against money laundering. Two of these measures specifically target cash: banning cash payments above and scrapping the €500 note.

MEPs of the Foreign Affairs Committee of the EU have submitted a list of recommendations to improve the fight against terrorism and none of the main points include cash.