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Cryptocurrencies

Swiss city municipality to allow Bitcoin payments

Wednesday 13 September 2017 | 09:16 AM CET

The Swiss municipality of Chiasso has announced plans to allow residents pay their taxes in Bitcoin, according to Fortune.

Similarly, in 2016, Zug, another town in Switzerland which styles itself as “Crypto Valley”, rolled out a pilot in which it started accepting Bitcoin payments for municipal services. The pilot was apparently a success, so Zug has kept the program running. Zug's scheme also caps Bitcoin payments fairly low, only accepting them for a value of up to 200 Swiss francs. At the time of writing, one Bitcoin is worth 4122.94 Swiss francs (and USD 4306.01).

Chiasso is going one further by accepting Bitcoin for small tax payments, up to a value of 250 Swiss francs (USD 261). The move is apparently part of Chiasso's drive to make up for contraction of the traditional financial sector after the financial crisis.

More: Link
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