- The city of Lugano in Switzerland is aiming to allow people to live in the city using only Bitcoin.
- Bitcoin can now be used as capital to set up companies in Lugano, with a minimum requirement of 100,000 Swiss Franc (CHF) in Bitcoin.
- There has been an increase in shops, restaurants, and service providers in Lugano that accept Bitcoin as payment.
- Residents of Lugano can also pay taxes and contributions in Bitcoin.
- Getting a residence permit to live in Lugano using Bitcoin is a matter dealt with at the cantonal level in Switzerland.
- Lugano’s example may pave the way for other levels in the Swiss system to be more open to Bitcoin.
Lugano, Switzerland is making waves in the crypto world as they strive to become a Bitcoin-friendly city. With Bitcoin being accepted as capital for company registration, as payment for goods and services, and even for taxes and contributions, Lugano is setting an example for other levels in the Swiss system to follow. The vision of living in Lugano without the need for fiat currency is becoming a reality, and it may not be long before other cities and countries join the crypto revolution.