In a move announced on December 5, 2023, the city of Lugano in Switzerland declared its decision to permit the use of Bitcoin (BTC) and Tether (USDT) as methods of payment for taxes and fees. This initiative is a key component of Lugano’s partnership with Tether, aimed at rejuvenating the city’s financial infrastructure through the incorporation of Bitcoin technology.
Presently, the city exclusively permits cryptocurrency transactions through the official payment portal overseen by the government.
This action aligns with Lugano’s broader Plan B initiative, aiming to revolutionize the city’s financial system by incorporating Bitcoin and Tether technologies. The Plan B program encompasses the city’s strategy to integrate blockchain technology into everyday life, with collaboration with Tether being a key aspect of achieving this objective.
Bitcoin Suisse is aiding the city in streamlining the technical elements of cryptocurrency payments. Notably, the platform utilizes QR-Bill technology, enabling Lugano residents to scan QR codes on invoices for seamless payments. Subsequently, individuals and entities can select their preferred cryptocurrency and wallet after scanning the QR code.
Armin Schmid, Product Director at Bitcoin Suisse, expressed enthusiasm for the city’s adoption of Bitcoin technology, emphasizing:
“It’s fantastic to see an increasing number of cities in Switzerland offering cryptocurrency payments as an option for both residents and businesses, complementing traditional payment methods like post offices and electronic banking platforms”.
Earlier, several other Swiss cities had already implemented such measures. In 2021, Zug started accepting Bitcoin and Ethereum as methods of tax payment. The canton of Zug and Zermatt municipality also adopted this system.
In the previous month, one of Switzerland’s major banks, St. Galler Kantonalbank, officially introduced deposit and transaction services for Bitcoin and Ethereum for specific clientele.
By. Pham Thanh Bien
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