Keisy Y.Sat, Mar 5, 2022 5:00 PM
Lugano Is To Make Bitcoin And Tether Official Payment Means
The Swiss city of Lugano has entered into a partnership with Tether. This partnership is to make Bitcoin, Tether, and Lugano's own LVGA Points token de facto legal tender in the city.
After the approval of this bill, residents of the city will be able to pay fines for parking and taxes, as well as utilities and university education, using cryptocurrency. In addition, many stores will also accept cryptocurrency payments.
When making this decision, they took into account the example of El Salvador, where, along with the dollar, bitcoin has already been used as a means of payment. However, Lugano is going to do more - to allow the use of several cryptocurrencies, not only bitcoin, for everyday transactions.
At the "Plan B" meeting, which took place on March 3 in Lugano, the mayor of the city, Michele Foletti, noted that this step was "de facto" in nature. Despite the possible innovation, the Swiss franc will remain the actual legal tender not only in Lugano but also in all other cities of Switzerland.
In addition to the idea of accepting cryptocurrency as a payment method, the Plan B event also announced the upcoming World Bitcoin Forum, which will be held in Lugano on October 26-28.
The Swiss city of Lugano is located in the Italian-speaking southern part of the country and is the ninth-largest city in the country. It is home to over 62,000 people.