Swiss city Zermatt accepts tax payments in Bitcoin

Cryptocurrencies are becoming more and more popular every day – not only as an investor tool but primarily as a means of payment. Many countries are even planning to introduce their own cryptocurrencies and stablecoins. One of the most cryptocurrency-friendly countries is Switzerland – a country strongly associated with banking and innovation.

Bitcoin ski resort

Zermatt is one of the most famous tourist cities in the world, located in Switzerland. This place is a giant center of winter sports and mountain hiking. The city is very progressive – entry is not allowed by cars other than electric cars, and public transport is via an electric train.

Zermatt decided to go a step further in its modernity – more precisely, to allow all taxes to be paid with Bitcoin, with no cryptocurrency limit. In addition, there’s an option to pay administrative fees up to CHF 150. The whole payment system is to be coordinated thanks to the partnership with Bitcoin Suisse – the largest Swiss company whose activity is based on cryptocurrencies. Taxpayers can make online payments – all they have to do is sign up for this option. It is also possible to pay taxes through a point-of-sale, which will be delivered by Bitcoin Suisse to the town hall.

Switzerland focuses on innovation

Zermatt is not the first Swiss city that has decided to make Bitcoin payments available to its residents. In 2016 payments using this cryptocurrency for some city services were accepted in the city Zug – however, a limit is set – it’s the equivalent of CHF 200 in Bitcoin.

Undoubtedly, the decision of the Zermatt authorities is another step towards the development of cryptocurrency payments in Switzerland. It is also worth mentioning that in December 2019, the Swiss SEBA Bank AG expanded its activities to 9 further countries, as well as created the SEBAX tool – an index assessing the “weight” of cryptocurrency assets.