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IPFS News Link • Cashless Society

Losing The War On Cash - Swedish Central Bank U-Turns On 'Cashless Society' Agenda

• https://www.zerohedge.com by Tyler Durdan

Sweden's Riksbank has become the first central bank in the 21st century to take concrete measures to ensure that cash does not disappear as a means of payment from the financial system. To that end, the Riksbank proposes, in a document published on its website, to make it mandatory for all banks and financial institutions to offer cash services.

The pronouncement comes in response to a recent policy suggestion by the Riksbank Committee that only the country's six major banks should be obligated to continue offering cash services.

That prompted a backlash from Sweden's competition watchdog, which argued that the plan would distort competition as it would affect only a few of the nation's banks. In response, the Riksbank has opted to apply the rule to "all banks and other credit institutions that offer payment accounts."


www.universityofreason.com/a/29887/KWADzukm