Swiss city of Lugano accepts crypto payments

There has been a wave of Bitcoin-use in Lugano, Switzerland. The city now lets its citizens pay with cryptocurrencies, according to a press release from Bitcoin Suisse. This allows individuals and businesses to pay all bills issued by the city (including tax assessments) with Bitcoin or the stablecoin USDT.

It is the implementation of "Plan B", an initiative of the city government to promote the adoption of cryptocurrencies. Bitcoin Suisse is responsible for the technical design. The company previously supported the introduction of cryptocurrencies in the city and canton of Zug and in the municipality of Zermatt.

Specifically, the new feature works in practice as follows: There is a QR code on the bill that citizens can scan with their smartphones. A window then appears where you can select the cryptocurrencies and pay using your preferred mobile wallet. In general, Switzerland is considered particularly attractive for crypto investors from a tax perspective.