- The Swiss city of Lugano made Bitcoin, Tether, and LVGA tokens legal tender.
- Allowing its residents to purchase and pay taxes using crypto.
- In a 56 seconds video, customers showed how fast it is to order in McDonald’s using crypto payment.
Similar to El Salvador, the southern Swiss municipality of Lugano boosts its crypto adoption by allowing residents to pay taxes or purchase to more than 200 local businesses using cryptocurrencies. Eventually, Lugano aims to become the crypto capital of Europe.
In March 2022, the Swiss city reportedly collaborated with stablecoin manufacturer Tether to make Bitcoin, Tether, and LVGA tokens legal tender in the municipality. This means that these cryptocurrencies must be accepted if offered to pay a debt.
Switzerland currently applies a system of 11 Self-Regulatory Organizations (SROs) to establish the country’s commitment to the blockchain. This guarantees that the blockchain ecosystem will be developed upon a clear, efficient, and flexible regulation. Lugano also intended to decentralize Bitcoin and support sustainable crypto mining facilities in the region, promoting new blockchain ideas and startups.
In a recent tweet, Bitcoin magazine shared a video on how to pay using cryptocurrency at the famous American fast-food chain McDonald’s.
🇨🇭 Paying at McDonald's with #Bitcoin in Lugano, Switzerland. pic.twitter.com/8IdcupEEKQ
— Bitcoin Magazine (@BitcoinMagazine) October 3, 2022
In the 56 seconds video, the person who orders the meal showed how seamless it is to pay using crypto. By the time the customer got her order slip, the cashier chose crypto as a payment option, scanned the QR, then the payment went through in just a matter of seconds.
However, some suggest that it will not be wise to spend their Bitcoin to eat out for it might become “the most expensive hamburger in a few years,” a statement derived from a person who purchased two pizzas using 10,000 Bitcoin in 2010.
