Bitcoin and Ether have reportedly been added as an accepted means of payment for tax, from local firms and citizens of the Swiss canton of Zug. 

Specifically, Bitcoin Suisse – a Swiss crypto broker has reportedly teamed up with the canton to make the development happen, and has also disclosed that the crypto payment method has been available starting the third week of February. 

The administration of the canton of Zug reportedly issued an official memo for the new tax payment method, visible on its official web page, offering videos with specific instructions to finalize crypto-enabled tax payment. 

“This step forward for crypto adoption has been enabled by the pioneering work from the Zug cantonal tax office using the Bitcoin Suisse Crypto Payments solution. It is yet another sign of innovation in Blockchain Nation CH,” Bitcoin Suisse reportedly remarked. 

The canton of Zug previously revealed details of its initiative to begin accepting crypto for tax payment in September last year, making the new payment method available to firms and individuals in the region. 

Generally known as the “Crypto Valley” due to its pro-attitude for crypto, the canton of Zug reportedly began running experiments with crypto payments in around 2016. In May of the same year, the city of Zug carried out a trial phase for Bitcoin payments for public services with a payment limit of 200 francs maximum.

Zug has reportedly not been the first place to add crypto to the list of viable payment methods for tax. Zermatt, a municipality in the district in the canton of Valais, reportedly released a Bitcoin tax payment measure in collaboration with Bitcoin Suisse in January 2020.