Mass adoption: Chiasso,Switzerland to accept tax payment in bitcoin

image source: zycrypto

Switzerland has constantly been keying into bitcoin with its major mass adoptions in most cities and is gradually becoming the main guy in financial technologies and cryptocurrency startups.

Chiasso has announced that it will start accepting tax payments from citizens in bitcoins, chiasso is pretty aiming to compete with zug`s crypto valley to become the city of mass adoption of financial technologies, cryptocurrency startups and innovations.

Umberto Balzaretti , head of the town`s administrations said.....

"HAVING LOST TAX REVENUES FROM THE DIMINISHING BANKING SECTOR IN THE WAKE OF THE FINANCIAL CRISIS, CHIASSO HAS BEEN LOOKING FOR REPLACEMENT INDUSTRIES."

This of course brought immediate look into the great cryptocurrency "bitcoin" which was already been massively adopted in Switzerland.

Chiasso will start to accept tax payments in bitcoins starting from the start of next year 2018, with zug earlier announcing last year that it will start accepting bitcoin payments for council services and has reportedly received up to 40 bitcoins from july 1st 2016 till date , which has exceeded the council`s expectation.

Zug has attracted many global startups, to name a few are , Breadwallet, Xapo, Monetas and Etherisc and has continued to strive to be the leader of fintech adoption and innovations in Switzerland.

Chiasso branded as CryptoPolis and has been seen as an alternative Zugs crypto valley, do you think that Zug s crypto valley and Chiasso`s cryptopolis might rival against each other ? Let me know in the comment box below.

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