In a world first, the Swiss town of Zug in central Switzerland will begin accepting the cryptocurrency Bitcoin as payment for government services on a trial basis.
The Zug municipality made the decision at its meeting on May 3 and the pilot project will start from July 1 and continue until the end of 2016. Bitcoin payments up to a value of CHF200 ($205.8 or 0.44 XBT) will be accepted for standard government services.
The authorities claim they want to lead by example in a region that has recently become a hub for the financial technology (Fintech) sector in the country. The self-appointed “crypto valley” of Switzerland hosts around 15 companies specialising in blockchain technology that underpins Bitcoin.
http://www.swissinfo.ch/eng/crypto-valley_zug-first-to-accept-bitcoin-for-government-services/42143908
Topic: [2016-05-10] Zug first to accept bitcoin for government services (Read 286 times)
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