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Wednesday, March 29, 2023

Swiss may face referendum on keeping cash

Campaigners wary of digital money want to enshrine cash in the constitution

Most of the cash in Switzerland is held in form of the largest banknote, worth 1,000 francs (37,200 baht), suggesting that physical money is used more as a store of value rather than for everyday payments. (Photo: Reuters)

Swiss citizens are likely to vote in a future referendum on whether to enshrine the availability of cash in the constitution.

The vote would follow a grassroots initiative that is seeking to pre-emptively guard against digital money.

The campaigners for the ballot, a group called the Swiss Freedom Movement, said this week that they had collected 157,422 signatures in support of such a vote.

If officials…

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