Digital Assets: Swiss Ski Resort Zermatt Goes Crypto; Will Accept Taxes in Bitcoin

January 30, 2020 | Digital Assets, News

A curious mayor and the precedents from other municipalities trigger the move.

Inspired by Swiss Municipality Zug, which started accepting payments in Bitcoin in 2016, the Swiss ski resort of Zermatt has followed suit.

Zermatt now accepts tax payments and other government payables in the bitcoin cryptocurrency, reports Bloomberg.

Zermatt Mayor Romy Biner-Hauser threw open the facility to Zermatt’s 5,400 residents. They can now transact bitcoin through Bitcoin Suisse AG, a broker. All they need is a tablet computer. The broker will convert the cryptocurrency into francs before paying it to the authorities.

Zug a pioneer in bitcoin

However, the Swiss municipality of Zug was a pioneer of sorts and started accepting bitcoin for taxes as far back as 2016 up to a value of CHF 200. Further, broker Bitcoin Suisse AG helped implement the scheme. Zug harbors ambitions to become the center of fintech and digital activity in Switzerland.

“We want to express our openness to these new technologies and gain experience at an early stage of their development, mayor Dolfi Müller said at the time. “The town is inviting fintech companies in our region to exchange ideas with the City Council. We aim to get a better understanding of their needs for optimal development in our home city and economic area.”

Zermatt mayor Romy Biner-Hauser is echoing his words: “Everyone is talking about cryptocurrencies and blockchain, and if you don’t try it out, you don’t get smarter,” she said.

Chiasso follows

In 2017, Swiss municipality Chiasso, which too styles itself as “Crypto Valley,” followed Zug’s lead. It started accepting Crypto for small tax payments up to CHF 250.

Related Story:   New Swiss Regulated Bank is a Bridge Between Traditional Banking and Crypto                                                

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Epic Lays Off 830 Employees As Metaverse Underperforms
September 29, 2023     Digital Assets, News

Earlier today, Tim Sweeney, the head of Epic Games, shared an email with the company’s employees, announcing some significant changes within the organization. In this message, Sweeney discussed the necessity…
Artificial Intelligence: Mysterious US-Based Books3 Dataset Used To Train AI Was A Massive Trove Of Pirated Books
September 29, 2023     Artificial Intelligence, Latest News, News

Thousands of books penned by some of Australia’s most esteemed authors may have fallen victim to what Booker prize-winning novelist Richard Flanagan has described as “the biggest act of copyright…銅鑼灣_Causeway_Bay_銅鑼灣時代廣場_Times_Square_office_Tower_One_阿里巴巴_Alibaba_Hong_Kong_June_2022_Px3_03.jpg
FinTech: Ant’s Chongqing Consumer Finance Arm Raising $616M To Ramp Up Loans
September 29, 2023     FinTech, News

Chongqing Consumer Finance, the consumer finance arm of Ant Group, a prominent player in China’s financial technology landscape, is currently in the process of raising a substantial sum of fresh…
Venture Capital: Mercury’s Fund V Mops Up $160M For US Startups “Between The Coasts”
September 29, 2023     News, Venture Capital

Mercury Fund, the premier early-stage venture firm with a focus on non-coastal tech hubs, has successfully closed its largest fund to date, Mercury Fund V, with a total capital commitment…