This is true.According to the Federal Reserve System, there is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services.
The Federal Reserve System also states that businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
In short, there is no federal law that requires private businesses to accept cash payments from customers.
I should have added "for payment of money that you owe them".
And the above would be meaningless if there wasn't a law to back it up.Federal Reserve said:Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor.