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It was early May when the Swiss town of Zug convened a city council meeting. By the end of it, bitcoin was accepted as a valid mode of payment for municipality services, part of a pilot program.
Fintech-friendly Zug, a picturesque and serene town on the banks of lake Zug made headlines in May after gaining the distinction of the first municipality or locality in the world to accept bitcoin. The cryptocurrency was accepted by the city council as a part of a pilot program, enabling adopters and users to pay for municipal services with the cryptocurrency. The program launched on July 1.
The considerable media coverage that followed the city council’s move surprised Zug’s mayor, Dolfi Müller. Zug had already garnered a reputation for being innovation-friendly with relaxed controls and regulation. Still, Müller had a statement for bitcoin, specifically, in quotes attributed to German broadcasting agency Read more ... source: TheBitcoinNews
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