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The Isle of Man is the first part of the British Isles to encourage companies to round prices to the nearest five pence amid declining use of copper.

Due to rising production costs and an increasingly cashless society, the Crown Dependency stopped minting Manx pennies and two pence pieces in 2016.

The island’s currency, the Manx pound, is not legal tender in the United Kingdom, but pound coins and banknotes are accepted there.

Now the Isle of Man Treasury has urged local traders to consider rounding payments “to the nearest five pence” as it prepares for small change to gradually disappear from circulation altogether.

From: Is this the beginning of the end for 1p and 2p coins? The British Isles that say “round up.” – Worldtimetodays.

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According to campaign group Ax the Card Tax, the cost of processing a card payment has risen 600 percent in the last nine years.

From: Pay in cash to save us crippling card fees, plead retailers – Worldtimetodays.

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Restrictions imposed by Argentina’s government last week left as much as $500 million in US cash stranded at the country’s main airport for three days, unnerving local bank executives amid a surge in withdrawals.

Argentine savers have already withdrawn nearly $2 billion — 10% of total private sector dollar holdings — since a February peak in deposits. The import of banknotes from the US is exacerbating the decline the central bank’s reserves.

From: A $500 million cash pile at Argentina’s main airport unnerves banks | AJOT.COM.

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Why bitcoin ATMs are taking over malls and gas stations across the U.S.

From: Why bitcoin ATMs are taking over malls and gas stations across the U.S..

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The number of bitcoin ATMs installed worldwide sank to a two-year low this month, according to data from AltIndex.
Since the end of last year, the number installed has dropped 7,000, or 17%, to 32,500, AltIndex said on Wednesday. That follows an increase from 34,500 at end-2021.

From: BTC ATM Numbers Drop 17% in a Year to Lowest Level Worldwide Since 2021.

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Coinage marking the reign of King Charles III has been designed to help children identify numbers and learn to count. The problem is, they have no idea what physical money is

From: Shiny new coins to teach numeracy? I doubt kids will give a toss | Michael Hogan | The Guardian.

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The shipment of gold bars and bills was hauled from Pearson International Airport to a warehouse at around 5:50 p.m. Toronto time on April 17. About 40 minutes later, someone showed up with fraudulent documents to pick them up. “No security protocols or features were in place to monitor, restrict or otherwise regulate the unidentified individual’s access to the facilities,” Brink’s alleges in the statement of claim.

From: Air Canada sued for ‘negligence’ after thieves stole $17 million in gold and cash by merely showing fraudulent documents to pick up the cargo | Fortune.

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30 billion banknotes are printed in Europe but 80% have been hidden and never used
The majority of euro notes created are not used to pay for purchases.

From: 30 billion banknotes are printed in Europe but 80% have been hidden and never used News.

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A part (between 30 and 50%) is held by people who are not in the Euro zone and therefore cannot use the tickets to make purchases; the other is… hidden: in safes, under mattresses, in shoe boxes or even buried in gardens! And this is not a joke ! Here again, the European monetary institution estimates that between 30 and 50% of the notes designed are carefully kept as reserves, both by individuals and by the ECB and the central banks of each country, or even banks.

 

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15 per cent of Canadians use cash to make ‘under the table’ payments.

From: Canadians report a love-hate relationship with cash, reveals new Payments Canada study.

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DC has begun enforcing a law that prohibits businesses from not accepting cash as of October 1.

From: DC Is Now Enforcing Its Ban on Cashless Businesses.

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business owners who have gone cashless say it has helped prevent theft, keep places more sanitary and improve efficiency.

From: Cash remains king with LA city ban on cashless businesses.

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Konig says their mission is to give more people access to higher quality fast food, so they ultimately decided it was important to accept cash, which now accounts for nine percent of in-store sales. “We wanted to really reduce every friction point we could for people, so there was no reason that they couldn’t shop with us,” he says. Still, though, he’s conscious of the risks: The store’s cash registers were robbed overnight last year.

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The challenge confronting the United States government is that maintaining the status quo looks difficult, and it might need to make a preemptive move to a central-bank digital currency to prevent the establishment of a private digital currency that competes with the dollar. But one way or the other, you’ll likely be seeing such a currency arriving soon.

From: Bezos Bucks? Get Ready for Corporate Digital Currency – IEEE Spectrum.

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mazon, eBay, Facebook, Google, Instagram, LinkedIn, Match Group, Microsoft, Snapchat, TikTok, and YouTube, have pledged to verify new advertisers

From: UK to bring tech firms to account under new Online Fraud Charter.

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