Canton of Zug (Courtesy: Twitter)
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Bitcoin, ETH To Become Tax Payment Mode In Swiss Canton

Bitcoin and ethereum to become tax payment in swiss canton
Canton of Zug (Courtesy: Twitter)

The canton of Zug will accept taxes in form of Bitcoin and Ethereum. It allows all the companies and citizens in the canton to pay their tax through BTC or ETH.

The city in Switzerland became one of the most popular crypto hubs in Europe and hundreds of companies are already installed there. 

The region is going to be working with Bitcoin Suisse AG, a company that is converting the funds into fiat currency to process the transfer to the government. The city is also known for having low corporate taxes has been a hub for digital assets and crypto-related companies.

In addition to it, Zug has been accepting virtual currencies in shops, public offices and other services providers have also attracted new clients by accepting digital assets.

Bitcoin (BTC), the largest cryptocurrency in the world has been in a bull market since March this year. The entire community remains very excited about the future of the digital currency and what could happen with it in the future. Indeed, some analysts consider Bitcoin could be a hedge against inflation considering countries have been printing large amounts of money to reduce the negative effects of the pandemic.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.