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The city of Lugano, in Switzerland intends to become Europe's Bitcoin capital and has formed a partnership with stablecoin issuer Tether to establish Bitcoin, Tether and Lugano's own LVGA Points token as legal tender in the city.
A number of other Swiss localities that for some time have been accepting crypto for tax payments. As is the case in El Salvador, Lugano is aiming to have all of its businesses seamlessly use crypto for everyday transactions, in addition to allowing the use of cryptocurrency for tax payments.
At Thursday's "Plan B" event, which was hosted by Lugano's mayor, Michele Foletti, the move was described as a "de facto" legalization, as the Swiss Franc will still be the actual legal tender in Lugano and elsewhere in Switzerland.
Also announced at Plan B were plans for the Bitcoin World Forum to be held in Lugano on Oct. 26-28.
