A Swiss town is banking on bitcoin. The local council in the Swiss town of Zug has decided to accept Bitcoin for the payment of small fees. Starting July 1st, residents of Zug will be able to use the cryptocurrency to pay up to $205 for some public services. Lord Mayor Dorfi Mueller told NBC News residents will not be able to pay their taxes with bitcoin. However, for small fees, the council will accept the cryptocurrency. The president of the Swiss Bitcoin Association told NBC News that the town council’s move was “sending a strong signal that crypto-startups are welcome here.” This video was produced by YT Wochit News using
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