The Swiss government started a consultation on a proposal to enshrine the availability of cash in the constitution.
(Bloomberg) — The Swiss government started a consultation on a proposal to enshrine the availability of cash in the constitution.
The move is a response to a “Cash is freedom” initiative submitted to the government earlier this year. Campaigners want to put the issue to a national vote under Switzerland’s direct democracy system.
Read more: Swiss May Face a Future Referendum to Enshrine Status of Cash
In a statement Wednesday, the government said the language in the proposal was “insufficiently precise.” However, it acknowledged the importance of the points and has put forward its own version, which will also create a constitutional protection for cash.
While cash usage in Switzerland has declined in recent years, it remains the second most frequently used payment method, accounting for around 28% of transactions, according to the Swiss Payment Monitor.
The government consultation will run until Nov. 30.
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