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Swiss City Lugano Implements Cryptocurrency for Municipal Tax Payments

Swiss City Lugano Implements Cryptocurrency for Municipal Tax Payments

Key Takeaways

  • Lugano enables payment of municipal services and taxes using Bitcoin and Tether.
  • This initiative is a key component of Lugano's Plan B project, focusing on incorporating Bitcoin technology into municipal financial systems.
  • Lugano's cryptocurrency adoption follows a growing trend in Switzerland, with regions like Zug and Zermatt already embracing digital currency payments for public services.

Lugano, the city in southern Switzerland's Italian-speaking Ticino region, has launched a new payment initiative allowing residents and businesses to use cryptocurrencies like Bitcoin (BTC) and Tether (USDT) for municipal services and tax payments.

Lugano's administration declared the acceptance of cryptocurrencies as a valid payment method for all municipal services on December 5th.

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The progressive step has been implemented through a partnership with Bitcoin Suisse, a leading Swiss cryptocurrency platform, enabling an automated and efficient payment process.

The inclusion of cryptocurrencies in municipal payment systems forms a critical part of Lugano's Plan B project. This initiative, a collaboration with Tether, is designed to integrate Bitcoin technology into the city's financial ecosystem, transforming how financial transactions are conducted.

Bitcoin Suisse contributes to this vision by providing the necessary technical support, making it possible for Lugano to accept Bitcoin and Tether for various municipal payments.

Lugano's residents and business entities now have the flexibility to settle any local bill, regardless of its nature or amount, with cryptocurrencies. The process is facilitated through the Swiss QR-bill system, where users can scan the invoice code and complete the payment using their preferred cryptocurrency through a mobile wallet.

Lugano's approach towards embracing digital currencies is not isolated in Switzerland. Other regions have also ventured into similar initiatives. For instance, Zug began accepting Bitcoin and Ether (ETH) for tax payments in 2021, while the municipality of Zermatt partnered with Bitcoin Suisse to offer Bitcoin tax payment options back in 2020.

The decision by Lugano to integrate Bitcoin and Tether into its municipal payment system underscores the city's commitment to innovation and digital currency adoption. This move enhances the convenience for its residents and businesses and places Lugano at the forefront of digital currency adoption in Switzerland, aligning with the broader trend of cryptocurrency utilization in the country's public services.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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