The government’s long-awaited “cash mandate” legislation has been released, but one advocate warns the proposed rules would “green light the cashless society”.

Treasurer Jim Chalmers promised to introduce legislation protecting cash payments, but on Friday the draft proposal revealed businesses would have access to multiple exemptions.

For one, the mandate would exempt all small businesses with turnovers below $10m from having to accept cash.

Further, the mandate would only apply to large fuel and grocery retailers.

Financial Services Minister Daniel Mulino said the mandate and its exemptions would deliver a “balanced, practical and sensible step to support cash users and give consideration to businesses”.

“The mandate will apply to fuel and grocery retailers as this will best meet co

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