Ted Falk, Conservative Member of Parliament for Provencher, has announced the Framework on the Access to and Use of Cash Act, a Private Members’ Bill that would protect Canadians’ access to physical cash and prevent the Bank of Canada from issuing a central bank digital currency (CBDC).
“Cash is freedom – it is private, reliable, and you don’t need an app or computer to use it,” said Falk. “Canadian customers should always have the option to use it.”
The bill requires the Minister of Finance to establish a national framework to maintain access to cash, including withdrawals and deposits, and to support the long-term viability of Canada’s cash infrastructure. It also removes barriers to cash donations for charities and community organizations.
Cash remains essential for millions of Canadians, particularly seniors, low-income individuals, Indigenous communities, and those living in rural or remote areas. It is also the only payment method that functions without internet access, electricity or digital infrastructure.
“Digital systems can fail, as we saw when the Rogers network disruption meant millions could not use their debit cards and access their money,” Falk said. “Cash is the fallback that always works.”
The legislation also responds to growing concerns about financial privacy and government overreach. A central bank digital currency would allow unprecedented visibility into personal transactions and could enable future restrictions on how Canadians use their own money.
“Parliament, not unelected institutions, must decide the future of our currency,” Falk added. “This bill ensures that any fundamental change to our financial system requires democratic approval.”
Conservatives have been clear in their opposition to a CBDC, warning it could undermine privacy, destabilize the banking system, and concentrate financial power in the hands of the government. This bill delivers on that commitment while ensuring Canadians retain access to a secure, private, and reliable form of payment.