The move will make it the first Swiss canton to accept payment with cryptocurrencies. The eponymously named capital of Zug has accepted Bitcoin for government services since 2016, but only up to a value of CHF200 ($220).
In a press release, the canton’s finance director, Heinz Tännler said: “As the home of the Crypto Valley, it is important to us to further promote and simplify the use of crypto currencies in everyday life.”
Both companies and private individuals will be able to use either Bitcoin or Ether for payments up to CHF100,000.
Tännler said the canton was not taking any risks, since the authorities would receive Swiss francs for any payments made with a cryptocurrency.
The town of Chiasso at the border with Italy also accepts a limited amount of Bitcoin. And the mountain resort of Zermatt grabbed a few headlines at the start of this year when it said residents could pay a whole range of taxes in Bitcoin with no limit on the amount.
More
More
‘You can’t buy coffee with bitcoin, but you can start a company’
This content was published on
More and more blockchain companies are starting up their business in Switzerland using cryptocurrency start-up capital.
Has your continent reached its peak or is there still potential for economic growth?
Some regions of the world are on an upward trajectory with the promise of a steadily improving future. Where do you live? And in which direction is your region or continent developing?
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
WTO improves its world trade forecast thanks to Trump’s tariffs
This content was published on
The World Trade Organisation (WTO) expects world trade to grow by 0.9% this year, better than expected in April. US imports surged in the first quarter as a result of Donald Trump's tariff announcements.
Swiss gold exports might not face US tariffs after all
This content was published on
Gold exports to the United States may not be taxed after all. The White House plans to "issue an executive order in the near future to clarify misinformation regarding the taxation of gold bullion," among other things.
Heat warning issued in western and southern Switzerland
This content was published on
With the coming days set to be hot, authorities have declared a danger level of 3 out of 5 for certain parts of the country.
Switzerland concerned by fresh Israeli plans for Gaza
This content was published on
The foreign ministry has said it is “deeply concerned” about Israel’s plans to expand military operations in the Gaza Strip.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.