Seen as Global First, Swiss Town to Accept Bitcoin Payments

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A Swiss city that is billing itself as a heart for a digital banking attention will accept bitcoin for some payments starting this summer, in what proponents call a worldwide initial by a supervision physique and a pointer that “crypto finance” is flourishing in legitimacy.

The city legislature in northern Zug final week authorized skeleton to accept payments of adult to 200 Swiss francs (about $200) for metropolitan registration fees starting Jul 1, in what Mayor Dolfi Mueller called Wednesday an “experiment” directed during creation a digitally-minded city a colonize in finance.

Many in Zug surveillance a town’s repute as partial of “Crypto Valley,” with some 15 companies related to a digital banking business. The council’s pierce is designed in partial to assistance those firms, while providing a coming-of-age pull to bitcoin, that has been used widely already in private-sector transactions.

Niklas Nikolajsen, CEO of financial services association Bitcoin Suisse AG in Zug, pronounced a city’s preference is “the initial instance of a state entity that accepts bitcoin.”

Officials in a city of 30,000 people note that a scale so distant is small, and usually a few thousand francs’ value of fees are approaching to be paid with bitcoin this year. Tax payments, for

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