BTC And USDT Can Make Tax Payments, But Only In Lugano Switzerland

Bitcoin and USDT stablecoins are used as means of payment in Lugano, Switzerland. (Photo; Doc. Zhihu)

JAKARTA One of the cities in Switzerland, Lugano, has taken a major step in adopting crypto as a means of payment. On December 5, 2023, the city announced that it would accept Bitcoin (BTC) and stablecoin Tether (USDT). Both crypto assets can be used to pay taxes and necessities in the city of Lugano.

This move is part of a collaborative plan between Lugano and Tether, known as Plan B. This plan is designed to revitalize the city's financial system by utilizing Bitcoin technology.

Previously, Lugano only allowed crypto payments through city official online portals. With the latest updates, the city expanded the possibility of payments using crypto for all types of invoices, regardless of the amount.

According to the statement, residents and companies in Lugano can now pay their bills by scanning the QR code on their invoices and using their favorite mobile wallets. The two crypto assets received are Bitcoin and USDT stablecoins, which are leaders in their respective asset classes.

The Role of Bitcoin Suisse

Lugano's move in adopting crypto cannot be separated from the important role of Swiss fintech companies, namely Bitcoin Suisse, which plays an important role in Plan B Lugano. The company handles the technical section of payment solutions, offering convenient options for accepting Bitcoin and USDT payments.

Armin Schmid, Chief Product Officer of Bitcoin Suisse, expressed his joy at supporting Lugano in his mission to accelerate the use of Blockchain technology.

Lugano is not the first Swiss city to take this step. Since 2021, Zug City has received Bitcoin and Ethereum for tax settlement. Kanton Zug and Zermatt's munitions have also implemented this system.

Switzerland has long been a pioneer in adopting crypto assets. Last month, one of Switzerland's leading banks, St. Gallery Cantonalbank, announced the start of Bitcoin and Ethereum trading and storage services for a number of its clients.