Isn't this what happens in Europe because of some regulations? I recall being involuntarily bumped from a US-bound flight in the UK once and they handed me cash

Isn't this what happens in Europe because of some regulations? I recall being involuntarily bumped from a US-bound flight in the UK once and they handed me cash. Well, they handed me a voucher which I had to take to a specific window in the airport where they put euro bills in my hands.