Question

Which country became the first to officially ban the use of cash transactions for goods and services exceeding $500 in 2025? 
 

• A. United States
• B. Germany
• C. France
• D. Sweden

Hint:

When dealing with recent global events, consider countries known for leading specific trends, like Sweden for cashless initiatives.

Answer 1

The Correct Option is D

Step 1: Understand the context of cash transaction bans 
Many countries are moving toward cashless economies to reduce tax evasion, money laundering, and promote digital payments. 
Step 2: Analyze each option 
- Option (1): The United States has not implemented such a ban and relies heavily on cash in many sectors. 
- Option (2): Germany has a strong cash culture and has not been a leader in banning cash transactions. 
- Option (3): France has restrictions on cash payments (e.g., a €1,000 limit for residents), but it did not ban cash transactions exceeding $500 in 2025. 
- Option (4): Sweden is a leader in the cashless movement, with many transactions already digital. It is plausible that Sweden would be the first to officially ban cash transactions exceeding $500 in 2025, aligning with its trajectory toward a cashless society. 
Step 3: Conclusion 
Sweden, known for its advanced digital payment systems, is the most likely to have been the first to ban cash transactions exceeding $500 in 2025. Note: I cannot confirm this event as my knowledge is limited, and a web search may be required for the exact answer.