Is cash running out in Mexico? Sheinbaum's proposal to reduce its use by 2027

On Friday, September 25, at the National Palace, Mexican President Claudia Sheinbaum Pardo addressed public concerns regarding the future of physical currency in the country. She clarified that a newly discussed initiative, the proposed Digital Economy Law for Digital and Electronic Payments, is aimed at reducing the reliance on physical money rather than outright banning cash transactions across the nation's 32 federal entities.

The legislative proposal seeks to encourage a transition toward digital and electronic payment methods by the year 2027. By outlining these parameters, the administration has moved to dispel rumors of a complete prohibition on cash, framing the initiative instead as a regulatory step toward modernizing the country's payment infrastructure within a specified timeframe.