Is it illegal not to accept paper money?

1. Is it illegal not to accept paper money?

1, it is illegal not to accept paper money. Any unit or individual that refuses to accept cash for non-statutory reasons can be regarded as refusing to accept cash. Paying in cash is the legitimate rights and interests of consumers. If it is found that a unit refuses to pay cash, the People's Bank of China will give administrative punishment according to the law and regulations, depending on the seriousness of the case. When accepting cash payment, the payee shall provide convenience for consumers, and shall not accept cash on the grounds of inconvenience in change, fear of receiving counterfeit money, shortage of staff, internal control risks, etc. Avoid the situation that cash payment is more complicated, more links and longer time than non-cash payment.

2. Legal basis: Article 3 of the Regulations of People's Republic of China (PRC) on the Administration of Renminbi.

The legal tender in People's Republic of China (PRC) is RMB. No unit or individual may refuse to pay all public or private debts in People's Republic of China (PRC) in RMB.

2. What is the punishment standard for refusing to accept cash?

1. Those who refuse to accept cash may face administrative warnings and other penalties;

2. According to the announcement issued by the People's Bank of China, anyone who refuses or takes discriminatory measures to exclude cash should complete the rectification within one month from the date of the announcement;

3. If the above-mentioned behaviors still exist after the expiration of one month's rectification, branches of the People's Bank of China and relevant departments will investigate and deal with them.