Cashless Economy
People still like and use cash despite COVID-19 fears  Less ATMs, more problems for poor people in the UK The Chinese Way to a cashless society (under surveillance) Access to cash is getting more complicated  Will the UK be cashless in 2026? The dark sides of cashless payments How cashless can lead to unhealthy consumption Many UK consumers blocked from paying cash How cashless Harms the most Vulnerable: A New Zealander example Why coin shortage is a big issue
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Terrorism, money laundring: the risks of digital currency trading





Terrorism, money laundring: the risks of digital currency trading

The Monetary Authority of Macao (AMCM) has informed Macau News Agency that the trading of virtual currencies still implies considerable risks, including money laundering and terrorism financing.

The response was issued after an inquire on current works related to digital currency legislation, with the local monetary authority maintaining its cautious view towards decentralised digital currencies.

“Bitcoin, or any kinds of cryptocurrencies, are types of the virtual commodity which is neither a legal tender nor a financial instrument subject to the supervision of the AMCM,’ the monetary authority told MNA.

Cryptocurrency Bitcoin has seen its value soar above US$50,000 for the first time this week, having rocketed by almost 75 per cent in value this year.

Some of that rises has been attributed to corporate heavyweights backing world’s most popular virtual currency, with online payments group PayPal saying it would allow account holders to use cryptocurrency,  electric carmaker Tesla investing US$1.5 billion.

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Go Further

The wrong and unknown sides of cashless charity - 03/05/2021

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Ireland is not ready to move to a whole cashless society - 01/30/2021

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Britain is facing the cashless threat - 12/01/2020

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Banking Security

The wrong and unknown sides of cashless charity

Less ATMs, more problems for poor people in the UK

The Chinese Way to a cashless society (under surveillance)

Is Pakistan eager to follow cashless India?

Have your say

Access to cash is getting more complicated

Access to cash is getting more complicated
More than 10,000 free-to-use cash machines have disappeared across the UK in the last two years, with one in four Scottish ATMs now charging you to withdraw your own money. The pandemic has certainly forced us all to take our eye off the more mundane aspects of life, but we shouldn’t let it blind...

The dark sides of cashless payments

The dark sides of cashless payments
The Covid-19 pandemic has accelerated the transition to cashless payments in most Southeast Asian countries to facilitate contactless transactions and further curb the spread of the virus. Nevertheless, it is also crucial for us to be cautious because the method also has some drawbacks without us...

Covid-19: Using cash is not dangerous

Covid-19: Using cash is not dangerous
Many people have stopped using cold, hard — and dirty — cash in favor of debit, credit or contactless forms of payment. Transferred from one person to the next, money is susceptible to picking up a whole host of germs. And naturally, when COVID-19 hit, this left people questioning if cash was...
Academic Research

How cashless can lead to unhealthy consumption

Value of money: children can't understand it in a cashless society

Cash still rules and will remain

The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.


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The debate

The wrong and unknown sides of cashless charity

The wrong and unknown sides of cashless charity
Saying there might be a problem with humanitarian cash transfers is like saying that you don’t...

Some UK politicians battle against cashless

Some UK politicians battle against cashless
OLDHAM West and Royton MP Jim McMahon has joined calls for the government to put forward a law...

Is Pakistan eager to follow cashless India?

Is Pakistan eager to follow cashless India?
The spike in oil prices and the ensuing balance-of-payments crisis during the First Gulf War in...

Terrorism, money laundring: the risks of digital currency trading

Terrorism, money laundring: the risks of digital currency trading
The Monetary Authority of Macao (AMCM) has informed Macau News Agency that the trading of virtual...

Venezuela risks cashless

Venezuela risks cashless
Cashless society proponents should pay attention. Privacy concerns have been the major barrier for...

Welfare cards don't do the job

Welfare cards don't do the job
A $2.5 million government report into the cashless debit card is inconclusive on whether it reduces...

Freedom of choice: Paying cash must be an option

Freedom of choice: Paying cash must be an option
A Plymouth man is raging about the fact he can't park up on Plymouth Hoe unless he has a debit card...

India's digital currency is facing huge problems

India's digital currency is facing huge problems
As countries, especially developed economies, are paying accelerating efforts on developing...

Bank closures are a threat

Bank closures are a threat
Rishi Sunak MP has been criticised follow an announcement that more banks are closing in his...

Ireland is not ready to move to a whole cashless society

Ireland is not ready to move to a whole cashless society
The increased use of contactless and digital payments during the pandemic will not lead to the...
The website "Cashless Economy" (cashless-economy.com) is edited by individuals and civil society groups fully committed to defending privacy and civil liberties against abuse and the risks inherent in a cashless society.
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