The Swiss City of Lugano Has Recognized Bitcoin And Tether To Be “De Facto” Legal Tender.

All government offices and local companies in Lugano will take BTC, WBTC, and USDT for taxes, payments, tickets, and salaries, among other things.

Lugano has established a collaboration with stablecoin issuer Tether in order to establish Bitcoin, Tether, and Lugano’s own LVGA Points cryptocurrency as basically legal tender in the city.

The city even goes beyond cities that often accept bitcoin as a form of tax payment, stating that its objective is for all enterprises to use cryptocurrency for all transactions.

According to the city, it plans to implement a full cryptocurrency payment system with the required infrastructure for local companies who want to connect their present payment services with bitcoin and stablecoin.

The municipality said in a press release in Italian:

“The memorandum of understanding signed between Lugano and Tether will encourage the adoption of blockchain technology a local level and will allow the citizenry to pay taxes and fees for all services in Bitcoin, Tether or stablecoin based on the Swiss franc,”

The action was billed as a “Plan B” legalization at Thursday’s “de facto” ceremony, held by the city’s mayor, Michele Foletti, since the Swiss franc will undoubtedly remain the actual legal tender in Lugano and throughout Switzerland.

The Bitcoin World Forum, which will be happen on October 26-28, was also revealed during Plan B.

Lugano, Switzerland’s ninth-largest city, has a population of little more than 62,000 people and is located in the country’s Italian-speaking south.

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Patrick

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