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