Votation : keeping cash money in Switzerland

On 8 March 2026, Switzerland will vote on the popular initiative ‘Yes to an independent and free Swiss currency with coins or banknotes (Cash is freedom)’ and the direct counter-proposal (Federal decree on Swiss currency and cash supply).

The initiative

The initiative aims to enshrine the availability of cash and the Swiss franc as Switzerland's currency in the Constitution. To this end, it wants to oblige the federal government to ensure that a sufficient quantity of coins and banknotes is always in circulation. Furthermore, replacing the Swiss franc with another currency should only be possible with the consent of the people and the cantons.

The counter-proposal

The Federal Council and Parliament also want to enshrine the provisions on cash supply and the Swiss franc in the Constitution. However, they disagree with the wording of the initiative and are therefore proposing a counter-proposal based on the wording of existing laws.