Taxpayers in Swiss City can settle bills with Bitcoin, Tether

The Swiss city of Lugano started to accept cryptocurrencies for paying taxes, fines and all other invoices from the municipality.

Individuals and businesses can settle bills in Bitcoin or the Tether stablecoin by scanning a QR code, already a feature on regular Swiss invoices, Lugano authorities said in a statement on Tuesday. The backend process underpinning the system is handled by digital-asset broker Bitcoin Suisse AG.

Lugano, located in the country's south, close to the Italian border, joins other Swiss government entities like the city and canton of Zug and the town of Zermatt in accepting crypto for payments, Bitcoin Suisse said in a separate statement. Neighboring Liechtenstein has also announced plans to accept Bitcoin to pay for state services.

Picasa/samott - Fotolia

The chief executive officer of Tether's issuer, Paolo Ardoino, keeps a base in Lugano.