Luxembourg will protect the right to pay in cash

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In response to a parliamentary enquiry by MP Mars Di Bartolomeo, Luxembourg's Finance Minister Gilles Roth confirmed that the country is actively involved in discussions about the future of cash in the Eurozone.
The Bank of Luxembourg is taking part in the European Central Bank's projects for a new series of euro notes. There are two concepts to choose from: "The Culture of Europe: Common Heritage" and "Rivers and Birds: Strength and Diversity". In both cases, the focus is on unifying European values. Luxembourg residents have also been invited to express their opinions in a public survey in the summer of 2023.
The Bank supports the Eurosystem's strategy to preserve cash as an innovative, secure and inclusive way of payment. Special attention is paid to ensuring that the new banknotes are convenient for everyone, including visually impaired people.
Regarding the actual use of cash, according to the SPACE study, its share of total payments in Luxembourg decreased from 39% in 2022 to 37% in 2024. However, in monetary terms, the share of cash increased from 26% to 29%. At the same time, 59% of respondents consider it very important to retain the option to pay in cash, a figure that has continued to rise since 2019.
At the legislative level, the protection of cash in Luxembourg is ensured by the compulsory acceptance of euros as legal tender. Refusal to accept cash without a special agreement is punishable by a fine of 25 to 250 euros.
The government emphasises that the development of the digital euro will not lead to the disappearance of cash. Digital currency will complement, not replace, existing forms of money. The European Commission is preparing a new regulation that will strengthen the legal tender status of notes and coins.
Thus, despite the active digitalisation of the financial system, Luxembourg intends to ensure that citizens can freely choose between electronic and cash forms of payment, supporting the principles of financial inclusion for all segments of the population.