Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
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Sweden requires legislation to protect cash as usage declines. Riksbank's Aino Bunge stresses cash's importance for crises despite digital payment growth.
STOCKHOLM (Reuters) - Legislation is needed in Sweden to protect the status of cash, usage of which has been declining for a long time in the Nordic country, central bank Deputy Governor Aino Bunge said on Tuesday.
"The digitalisation of the payments market has helped make payments faster and more convenient for most people," the Riksbank's Bunge said in the written summary of a speech.
"At the same time, cash is needed – so that everyone can pay, as well as to provide an additional means of payment in the event of crisis or war," she said.
The transition towards digital payments has been faster in Sweden than in most other countries.
(Reporting by Anna Ringstrom, editing by Louise Rasmussen)
The main topic is the need for legislation in Sweden to protect the status of cash as its usage declines.
Cash protection is important to ensure everyone can pay and to provide a payment option during crises or war.
Aino Bunge is the Deputy Governor of Sweden's central bank, Riksbank, advocating for cash protection.
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