In Zug, Switzerland AKA Crypto Valley, You Can Pay for Your Company Registration Using Bitcoin or Ether

The Crypto Valley – a name granted to Zug, Switzerland – really lives up to its name. As a testament to how crypto-friendly they are in Crypto Valley, you can actually pay for your company registration using cryptocurrency there.

Bitfineon, a Switzerland based exchange, discovered this while registering for their company earlier this year. In fact, this has been available in the canton of Zug since early 2017.

The registration document reads (in English):

“Want to pay in Bitcoin or Ether? No problem, just send us an Email.”

If you wanted to pay using a different cryptocurrency than ether or bitcoin… Technically, you could use Shapeshift to pay using any cryptocurrency that they support.

Switzerland has been known as Crypto Valley for years

The Crypto Valley has been going strong for years. Notably, Ethereum chose the country as the base for what was not the first, but was definitely the the most well known ICO that kicked off the current craze in 2014. Now, in 2018, many more new cryptocurrency companies (such as Bitfineon) have started setting up shop there. In fact, even large and established cryptocurrency companies such as Bitfinex – the fifth largest bitcoin exchange by scale – have expressed interest in moving to the “crypto valley.” In this valley, it seems that Bitcoin and Ethereum reign supreme, which is no surprise given both market capitalization and the cryptocurrency landscape years ago.

Zug, Switzerland isn’t the only region to claim to be cryptocurrency or cryptography friendly. On another end of the multifaceted spectrum there are regions like Liberland. Estonia has a digital e-residency program that features a recently cracked ID card program. There are even Crypto Islands and Crypto castles and more than one ambiguous use of the word crypto. On another end of the multifaceted spectrum there are regions like Liberland.

What are your thoughts on paying government taxes or fees using cryptocurrency?

 

Richard Lee

Richard Lee has a decades long background in finance and has been observing the convergence of financial technologies and blockchain for years.

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