# Popular initiative “Yes to an independent, free Swiss currency with coins or banknotes (cash is freedom)” and direct counter-proposal (Federal resolution on the Swiss currency and cash supply) (2026) A thematic map of the Atlas of Switzerland, the national atlas published by ETH Zurich. The map is drawn in the browser; this file describes it and lists its variants and links, but not the data values shown on the map. - Map: https://atlasderschweiz.ch/en/theme/popular-initiative-yes-to-an-independent-free-swiss-currency-with-coins-or-banknotes-cash-is-freedom-and-direct-counter-proposal-federal-resolution-on-the-swiss-currency-and-cash-supply-2026/ - Short title: Popular Initiative "Cash is freedom" and direct counterproposal (2026) - Map id: 1163 - Categories: State and Politics › Votes › Financial and fiscal policy - Published: 2026-03-12 - Last revised: 2026-03-12 - Content language: English - Other languages: [Deutsch](https://atlasderschweiz.ch/de/thema/volksinitiative-ja-zu-einer-unabhaengigen-freien-schweizer-waehrung-mit-muenzen-oder-banknoten-bargeld-ist-freiheit-und-direkter-gegenentwurf-bundesbeschluss-ueber-die-schweizerische-waehrung-und-die-bargeldversorgung-2026.md), [Français](https://atlasderschweiz.ch/fr/theme/initiative-populaire-oui-a-une-monnaie-suisse-libre-et-independante-sous-forme-de-pieces-ou-de-billets-largent-liquide-cest-la-liberte-et-contre-projet-direct-arrete-federal-sur-la-monnaie-suisse-et-lapprovisionnement-en-numeraire-2026.md), [Italiano](https://atlasderschweiz.ch/it/tema/iniziativa-popolare-si-a-una-valuta-svizzera-indipendente-e-libera-con-monete-o-banconote-il-denaro-contante-e-liberta-e-controprogetto-diretto-decreto-federale-concernente-lunita-monetaria-svizzera-e-lapprovvigionamento-in-numerario-2026.md) ## Description ### Context In Switzerland, people are increasingly paying cashless, for example with debit and credit cards or payment apps. Nevertheless, most people want cash to remain a means of payment. Today, the law stipulates that the Swiss National Bank guarantees the supply of cash and that the franc is the Swiss currency. ### The initiative The initiative aims to enshrine the availability of cash and the Swiss franc as the Swiss currency in the Constitution. To this end, it wants to oblige the federal government to ensure that coins and banknotes are always available in sufficient quantities. In addition, it should only be possible to replace the Swiss franc with another currency with the consent of the people and the cantons. ### The counterproposal 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 counterproposal based on the wording of existing laws. ### Initiative and counter-proposal Neither the popular initiative nor the counter-proposal have any practical implications. They do not create any new tasks or additional costs. By enshrining them in the Constitution, both proposals ensure that the provisions on cash supply and the Swiss currency can only be changed by a referendum with a majority of the people and the cantons. ### Contents of the initiative and the counterproposal #### Context In Switzerland, people are paying less and less with cash, i.e. coins and banknotes. This is shown by regular surveys conducted by the Swiss National Bank (SNB) on the payment behavior of the population. Ten years ago, cash was still the most common form of payment in everyday life, but today debit and credit cards and payment apps are mostly used. At the same time, cash continues to be highly valued: according to the SNB's latest survey from 2024, a large majority of the population (95%) is in favor of cash remaining available as a means of payment in the future. #### Aims of the initiative With this popular initiative, the initiators want to prevent coins and banknotes from being abolished or displaced. They also want to ensure that the Swiss franc remains the Swiss currency and cannot simply be replaced by amending the law. They are therefore calling for protection at the constitutional level. #### What the initiative demands Specifically, the initiative calls for two new constitutional provisions: First, the federal government should ensure that coins and banknotes are always available in sufficient quantities. The initiative leaves open the question of what constitutes a sufficient quantity of cash. Second, the Swiss franc may only be replaced by another currency with the consent of the people and the cantons. #### What the counterproposal proposes The counterproposal also wants to enshrine in the constitution that the supply of cash must be guaranteed and that the franc is the Swiss currency. It proposes incorporating two existing legal provisions into the constitution largely unchanged. These stipulate that the SNB guarantees the supply of cash and that the Swiss currency is the franc. #### How the initiative and the counterproposal differ While the initiative proposes new wording, the counterproposal incorporates the wording of existing legal provisions largely unchanged. The counterproposal states that, as before, the SNB guarantees the supply of cash. The initiative now names the federal government. #### What the initiative and the counterproposal would achieve #### Higher hurdles for changes Today, the law stipulates that the supply of cash must be guaranteed and that the Swiss franc is the Swiss currency. The initiative and the counterproposal would enshrine these two points in the Constitution. This would primarily have a symbolic effect: it would underscore the importance of cash and the Swiss franc as Switzerland's currency. In addition, both could only be changed if a majority of voters and cantons approved in a referendum (majority of the people and the cantons). #### No practical implications Neither the initiative nor the counterproposal would lead to any changes in everyday life. There would be no new tasks and no additional costs. The SNB already fulfills the mandate to ensure the supply of cash in Switzerland. The Swiss franc as the Swiss currency is also already enshrined in law. Neither the initiative nor the counterproposal would create a right to pay with cash or an obligation to accept cash. ### Results The initiative was rejected. The counterproposal was accepted. Voter turnout: 55.4 % Yes votes for the initiative: 45.6 % Yes votes for the counterproposal: 73.4 % ## Sources - Bundeskanzlei (2026): [Erläuterungen des Bundesrates zu den Abstimmungen vom 08.03.2026](https://www.admin.ch/dam/gov/de/Dokumentation/Abstimmungen/Marzo2026/52862_Erlaeuterungen_Maerz_2026_de.pdf.download.pdf/52862_Erlaeuterungen_Maerz_2026_de.pdf) ## Data sources - FSO (2026): [Abstimmung vom 8. März 2026](https://www.bfs.admin.ch/bfs/de/home/statistiken/politik/abstimmungen/jahr-2026/2026-03-08.html). BFS/OFS/UST/FSO - Swisstopo (2026): [swissBOUNDARIES3D](https://www.swisstopo.admin.ch/de/landschaftsmodell-swissboundaries3d) ## Data owners - [Atlas of Switzerland (AoS)](http://www.atlasderschweiz.ch/) - [Swiss Federal Statistical Office (FSO)](https://www.bfs.admin.ch/) - [Swiss Federal Office of Topography (swisstopo)](http://www.swisstopo.admin.ch/) ## Citation The terms of use ask to name the Atlas of Switzerland and the data owners, and to keep the source references in exports, screenshots and embeds. Cite the map as: > Atlas of Switzerland (2026): Popular initiative “Yes to an independent, free Swiss currency with coins or banknotes (cash is freedom)” and direct counter-proposal (Federal resolution on the Swiss currency and cash supply) (2026). ETH Zürich. Map data © AoS, FSO, swisstopo. https://atlasderschweiz.ch/en/theme/popular-initiative-yes-to-an-independent-free-swiss-currency-with-coins-or-banknotes-cash-is-freedom-and-direct-counter-proposal-federal-resolution-on-the-swiss-currency-and-cash-supply-2026/ ## Variants The map has 6 variants. Levels: variant → spatial unit → time. The `u` value of a variant selects it in the links below. - Results Initiative - Cantons - 2026: `u=BCwAAwIQ` (default) - Communes - 2026: `u=BCwABQIQ` - Results of the counterproposal - Cantons - 2026: `u=BCwAAwIP` - Communes - 2026: `u=BCwABQIP` - Voter turnout - Cantons - 2026: `u=BCwAAwIO` - Communes - 2026: `u=BCwABQIO` ## Links Replace `{u}` with the `u` value of a variant above, or leave out `u={u}` for the default variant. 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The size can be changed in `style`. ## Related maps - [Party strength of the most dominant party](https://atlasderschweiz.ch/en/theme/party-strength-of-the-most-dominant-party.md) (id 682) For the use and citation of maps and data, see the [terms of use](https://atlasderschweiz.ch/en/terms-of-use/).