Seamless Bitcoin Payment was Made Possible in Switzerland

Seamless-Bitcoin-Payment-was-Made-Possible-in-Switzerland
  • 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.

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.

Tags:
disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.