Lugano Embraces Cryptocurrency Payments for Taxes and Services

The city of Lugano, Switzerland, has embraced digital currencies, allowing residents and businesses to use Bitcoin (BTC) and Tether (USDT) for tax payments and municipal fees. Lugano’s announcement on December 5 revealed this initiative, allowing citizens to settle invoices through the Swiss QR-bill code using their preferred mobile wallet and their chosen cryptocurrency.

This move is part of Lugano’s broader Plan B, a collaborative project with Tether, intending to modernize the city’s financial system using Bitcoin technology. Bitcoin Suisse acts as the technical partner, facilitating Bitcoin and Tether payments for tax and other municipal service invoices.

Armin Schmid, Chief Product Officer at Bitcoin Suisse, highlighted the growing trend of Swiss municipalities offering cryptocurrency payments, alongside traditional methods like post offices and e-banking.

Lugano has previously integrated blockchain solutions, including Polygon chain on the MyLugano app, LVGA Points payment token, Lugano digital franc, and the 3Achain blockchain infrastructure. Other Swiss cities like Zug and Zermatt have also started accepting Bitcoin and Ether for tax payments, showcasing a growing trend in Swiss municipalities adopting cryptocurrencies.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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