LUXEMBOURG (CN) — Businesses in the European Union should accept cash, but countries are allowed to place their own restrictions on currency usage, an adviser to the EU’s high court said Tuesday.
The nonbinding advisory opinion from Advocate General Giovanni Pitruzzella says companies in the 27-member political and economic union should accept euro notes because people who don’t use banks may struggle to pay with other methods, but he wrote countries can impose currency regulations so long as they are in the public interest and do not abolish the euro.
The case was referred to the Luxembourg-based European Court of Justice by the German Federal Administrative Court, following an appeal by two men who had been charged late payment fees after a German public broadcaster refused to accept their payments in cash.
Read more
The nonbinding advisory opinion from Advocate General Giovanni Pitruzzella says companies in the 27-member political and economic union should accept euro notes because people who don’t use banks may struggle to pay with other methods, but he wrote countries can impose currency regulations so long as they are in the public interest and do not abolish the euro.
The case was referred to the Luxembourg-based European Court of Justice by the German Federal Administrative Court, following an appeal by two men who had been charged late payment fees after a German public broadcaster refused to accept their payments in cash.
Read more
China is using Digital Lotteries to Promote State-Backed Cryptocurrency
