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

January 30, 2020 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2020/01/zermatt-3236569_640-bitcoin.jpg

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.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…