Canton Ticino accepts Bitcoin to pay taxes

After Lugano, Canton Ticino is now also accepting Bitcoin (BTC) through a digital platform active as of today, 7 July 2022, allowing citizens to pay certain administrative fees with the queen of crypto. 

Canton Ticino now accepts Bitcoin (BTC)

Starting today, 7 July 2022, Canton Ticino will accept Bitcoin (BTC) for payments of certain administrative fees, via the corresponding digital platform activated. 

This news had been announced by the Department of Finance and Economy, following up on the Grand Council’s decision in April 2021. This is a pilot project that may be extended to other payments in the future.

According to reports, in this first phase, it will only be possible to use crypto to pay certain administrative fees already collected through the online sales platform by the Withholding Tax and Stamp Duty Office of the Tax Division. 

A press note released this morning states the following:

“This pilot project makes it possible to significantly limit risks, while still guaranteeing the acceptance of Bitcoin payments by certain services of the cantonal administration”.

Canton Ticino joins Lugano in accepting BTC

This latest news from Canton Ticino brings it closer to the town of Lugano that has already been accepting Bitcoin (BTC) but also Tether (USDT) and Lvga (the legal token) for several months. 

In fact, it is since 3 March 2022 that Lugano has made BTC, USDT and Lvga legal tender, meaning they are accepted by public and private infrastructures. This was made possible by the Memorandum of Understanding between the city of Lugano and Tether Limited, which established Plan B. 

The goal of Plan B is to make Lugano a true crypto and blockchain hub, able to host companies and startups in the sector, and by having stores and businesses integrate crypto as a method of payment. 

Not only that, last month, Lugano also hosted the first edition of the Metaforum event organized by The Cryptonomist and Finlantern held at the LAC museum in Lugano, with more than 500 people in attendance. 

Speakers in attendance included John Crain, CEO and co-founder of SuperRare; Pavel Matveev, co-founder of Wirex; Massimo Morino, CEO of Algorand Foundation; Alberto Maiorana, Head of Licensing at Sorare; and many others.