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Supporters of the Denaria Manifesto

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Freedom of Choice
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The ECB and the defence of cash

The ECB defends cash as a citizen's right and warns against its exclusion in shops

Oct, 2025

n a context dominated by digital payments, the European Central Bank stresses that cash remains indispensable for financial inclusion, resilience and privacy. The ECB warns that ‘cash not accepted’ signs violate the nature of the euro as legal tender and is preparing measures to ensure its acceptance throughout the eurozone.

Visa and Mastercard

Visa and Mastercard in court: the court ruling that questions the balance between efficiency and competition.

Oct, 2025

On 27 June 2025, the UK Competition Appeal Tribunal ruled against Visa and Mastercard for imposing fees that violate competition laws. The court noted that these fees limit competition and distort the market. Based on Article 101 of the EU Treaty, the decision sets a precedent by declaring certain international and corporate fees illegal. The case reopens the debate on how to balance efficiency and competition in the global financial system.

Effective: Legislative Initiatives in the United States

US Congress reopens debate on legislation protecting cash payments

Sep, 2025

Cash returns to the centre of the legislative debate in Washington with two legislative initiatives, the Payment Choice Act and the Secure Access to Cash Act, which seek to guarantee the right to pay in cash and strengthen access to cash machines.

Digital dollar

US bans issuance of digital dollar

Sep, 2025

‘This would be a dangerous threat to freedom, and I will prevent it from coming to the United States.’
‘Such a currency would give the federal government absolute control over your money.’
‘As your president, I will never allow the creation of a central bank digital currency.’

Payment sovereignty

Payment sovereignty: act (again) now and prepare for the future.

Jul, 2025

On 2 June, the CNMP (National Committee on Payment Methods) issued a statement in which, as a result of the general increase in tensions and uncertainty, it emphasised the importance of cash as a crucial means of payment for ensuring a resilient economy, an independent industry and greater national security.

Scenarios for the future of cash

Cash of the Future: three hypothetical scenarios on the role of cash in Germany

Jun, 2025

The study ‘Cash of the Future’ by the Bundesbank analyses how the use of cash in Germany could evolve between 2025 and 2037. Through three possible scenarios, it examines various social, economic and technological factors that could influence the role of cash in the future.

Cash is the only method of payment that guarantees liberty, sovereignty, and individual privacy.

International Currency Association (ICA) White Paper on Cash Policy

May, 2023

Cash is the only form of public money: it can be used by anyone, it is not offered as a service to generate commercial deposits, nor is it used to gather personal data that can be monetized.

El 24% de las compañías de la zona euro prefieren el efectivo como método de pago

Encuesta del uso del efectivo en las compañías de la zona euro. Banco Central Europeo.

Oct, 2022

Uno de los objetivos reconocidos por el Banco Central Europeo es el de asegurar la disponibilidad y aceptación del efectivo en la zona euro. En este sentido, ha puesto en marcha una encuesta sobre el uso del efectivo en las compañías que se publica ahora por primera vez y que recoge datos de 2021. La finalidad de esta encuesta es comprender mejor la visión de las empresas en el futuro del efectivo, su nivel de satisfacción con los servicios asociados al efectivo y estudiar su comportamiento en esta materia.

Sólo el 20% de los encuestados afirma tener total o "un nivel muy alto" de confianza en las carteras digitales.

La mayoría de los británicos todavía se sienten más cómodos pagando en efectivo o con tarjeta que con otros métodos de pago digitales

Aug, 2022

Más de una década después de la revolución digital, la mayoría de los británicos todavía se sienten más cómodos pagando en efectivo o con tarjeta que con otros métodos digitales como el monedero electrónico. Además, solo una quinta parte afirma tener un nivel de confianza alto en estas nuevas herramientas. Estas son algunas de las conclusiones que revela un estudio de la compañía británica Transact Payments.

El efectivo es universal, eficaz, genera confianza e interconexión

Estudio ‘Más allá de los pagos’ (“CashEssentials – Beyond Payments”) – Cash Essentials

May, 2022

El estudio de Cash Essentials ‘Más allá de los pagos’ analiza el papel del efectivo y su dimensión social, destacando cuatro características esenciales: su universalidad, la confianza que genera, su eficacia y la interconexión con las personas.

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