Why a Swiss Tax Haven is Embracing Bitcoin – Fortune

Bitcoin Watch Shop

Municipal bosses in a Swiss city of Zug have motionless to accept a bitcoin cryptocurrency for payments adult to a value to 200 francs ($206), in a new commander project.

Zug, traditionally famous for a low taxes (about half a Swiss average) and a kirschwasser cherry brandy, is these days perplexing to code itself as a somewhat sinister-sounding “Crypto Valley”—it’s home to some-more than 15 financial record (fintech) firms, and now it wants to dive even deeper into a destiny of practical currency.

Dolfi Müller, Zug’s social-democratic mayor, said a city wanted to demonstrate a honesty to new technologies and offer a support to a region’s fintech sector, by vouchsafing people use bitcoin to compensate for some metropolitan services.

Get Data Sheet, Fortune’s record newsletter.

The city legislature motionless final week to start usurpation bitcoin from Jul 1, and during a finish of a year it will demeanour during a lessons it has schooled from a exercise. It will afterwards confirm either Zug should accept bitcoin and other cryptocurrencies for some-more metropolitan services in a future.

Bitcoin allows people to make payments though carrying to engage centralized tie mechanisms such as banks. It is sincerely good during safeguarding anonymity, but


Read more ... source:

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
BTC: 1FVCSiK2ErerjH1kBP4VLS5LqR3YzmVeXf
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824