Illustration: Sarah Grillo/Axios

In yet another blow to the cashless revolution, New York City lawmakers passed legislation banning stores from going cash-free this past week.

What's happening: Several stores — including Amazon Go, Sweetgreen and Shake Shack — are leading an effort to do away with cash. But cities are fighting back, saying that stores that don't accept cash discriminate against millions of Americans, mostly the poor, elderly and immigrants, who don't use credit cards. New York follows Philadelphia, San Francisco, New Jersey and Massachusetts in banning cashless stores.

By the numbers: Around 30% of all U.S. business is still done in cash, not credit cards. And close to 14 million Americans are unbanked.

The big picture: As we've reported, there's a global race to speed up checkout, with companies betting that cash-free is the future of retail.

  • China is in the lead. Over the last two years or so, Chinese e-commerce giants Alibaba and JD.com have wholly eliminated cash in hundreds of stores.
  • American counterparts Amazon and Walmart are only starting to debut such technology in a few flagship locations, but they're running into cashless bans.

What to watch: Cashless stores, like Amazon Go, are adding cash as an option to comply with the bans in big cities. But paying with cash at these high-tech stores that are explicitly built to be cashless adds a lot of hiccups, as a Business Insider reporter discovered.

Go deeper: The West, dragged into the cashless society

Go deeper

11 mins ago - World

Mayor of Seoul found dead

Park at a conference in 2017. Photo: Aurelien Morissard/IP3/Getty Images

Seoul Mayor Park Won-soon has been found dead hours after his daughter reported him missing, prompting a massive manhunt, Yonhap news agency reports.

What we know: Park's disappearance came a day after allegations of sexual harassment against him were published in local media, according to the FT, which also reports that his daughter had found a "will-like message."

Scoop: Chinese biotech giant's U.S. subsidiary received PPP loan

Chinese biotech company BGI Genomics provided mobile labs for conducting COVID-19 tests at a sports center in Beijing. Photo credit: Xinhua/Chen Zhonghao via Getty Images.

A U.S. subsidiary of Chinese genomics company BGI Group received a loan through the Paycheck Protection Program (PPP), according to data on the program released by the U.S. Treasury Department this week.

Why it matters: BGI's close ties to the Chinese government, which is constructing a massive genetics database of its population, have raised concerns among U.S. officials.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 12,081,232 — Total deaths: 550,440 — Total recoveries — 6,639,503Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 3,057,431 — Total deaths: 132,360 — Total recoveries: 953,420 — Total tested: 37,431,666Map.
  3. Public health: Cases rise in 33 states — Fauci says states with severe outbreaks "should seriously look at shutting down"
  4. Education: How Trump's push to reopen schools could backfire — College sports stare down a disaster in the fall.
  5. Jobs: 1.3 million Americans filed for unemployment last week.
  6. Travel: Over 1,000 TSA agents have tested positive.