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The Swiss city of Lugano has taken a new step to promote the adoption of cryptocurrencies. The city government announced that citizens and businesses can now use Bitcoin and USDT to pay for municipal services and taxes.
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Payments will be made through Bitcoin Suisse, a platform that provides cryptocurrency services to corporate clients in Switzerland. Individuals will be able to use their preferred mobile wallet to make transactions by scanning a QR code on a paper invoice.
In Lugano, Bitcoin, Tether (USDT), and the city’s own token, LVGA, can be used to buy and sell a wide range of goods and services, from food and electronics to medicine and real estate payments. Also, this development is seen as a major step towards Lugano’s goal of becoming a cryptocurrency hub. The city is looking to attract cryptocurrency companies from around the world.
Lugano’s decision also reflects Switzerland’s positive attitude towards cryptocurrencies. In the canton of Zug, Switzerland, payments in Bitcoin and Ether have been possible since 2021.
Other Steps Lugano Is Taking to Promote Crypto Adoption
The city is also taking the following steps to promote cryptocurrency adoption:
- The city offers cryptocurrency education programs.
- The city provides tax incentives for cryptocurrency companies.
- The city organizes cryptocurrency conferences and events.
These steps could help Lugano become a major player in the cryptocurrency space.
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