Authorities in the canton of Zug now embrace cryptocurrency for tax settlement.
The Swiss canton of Zug is making it easier to imagine a world in which cryptocurrency users are resolutely in the mainstream.
The canton — which has earned itself the moniker of "Crypto Valley" for its positive stance towards cryptocurrencies — will begin allowing citizens to pay taxes in Bitcoin (BTC) and Ether (ETH).
According to Bloomberg on Sept. 3, “tax settlement by means of crypto currency will be available to both companies and private individuals up to an amount of 100,000 Swiss francs ($109,670).”
Roughly 127,000 people live in the region, which has previously taken steps to accept Bitcoi
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