{"id":411888,"date":"2022-03-04T01:00:00","date_gmt":"2022-03-03T22:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-city-of-lugano-will-accept-bitcoin-tether-and-lvga-tokens-as-de-facto-legal-tender\/"},"modified":"2022-03-04T01:00:00","modified_gmt":"2022-03-03T22:00:00","slug":"the-city-of-lugano-will-accept-bitcoin-tether-and-lvga-tokens-as-de-facto-legal-tender","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-city-of-lugano-will-accept-bitcoin-tether-and-lvga-tokens-as-de-facto-legal-tender\/","title":{"rendered":"# The city of Lugano will accept Bitcoin, Tether and LVGA tokens as &#8216;de facto&#8217; legal tender"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a3acd580d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a3acd580d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-city-of-lugano-will-accept-bitcoin-tether-and-lvga-tokens-as-de-facto-legal-tender\/#%E2%80%9D_The_city_of_Lugano_will_accept_Bitcoin_Tether_and_LVGA_tokens_as_%E2%80%98de_facto_legal_tender_%E2%80%9C\" >&#8221; The city of Lugano will accept Bitcoin, Tether and LVGA tokens as &#8216;de facto&#8217; legal tender  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_The_city_of_Lugano_will_accept_Bitcoin_Tether_and_LVGA_tokens_as_%E2%80%98de_facto_legal_tender_%E2%80%9C\"><\/span>&#8221; The city of Lugano will accept Bitcoin, Tether and LVGA tokens as &#8216;de facto&#8217; legal tender  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZGVmODk0NjItODlkYS00MDA0LTgyYjgtMzZkMWI1OGU2MGEzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Switzerland\u2019s southern city of Lugano plans for many local businesses to accept some cryptocurrencies as &#8220;de facto&#8221; legal tender as part of a partnership with Tether (U.<\/p>\n<p>Speaking at the city\u2019s Plan B event on Thursday, Tether chief technical officer Paolo Ardoino <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Zfh-oOlt03I\">said<\/a> the firm had set up a 3 million-Swiss franc fund in collaboration with Lugano officials to encourage adoption of Bitcoin (BTC), Tether (USDT) and the LVGA token for shops and businesses across the city. Ardoino said the project was aimed at attracting talent from the space to Lugano and making the city a major blockchain hub in Europe.<\/p>\n<p>\u201cWe want to show that these tools, these instruments, these currencies that were created can actually be put to work in a [locally-controlled] vibrant environment like the city of Lugano,\u201d said Ardoino.<\/p>\n<p>In addition to allowing Lugano residents to pay their taxes using crypto, the project will extend payments to parking tickets, public services and tuition fees for students. More than 200 shops and businesses in the area are also expected to accept crypto payments for goods and services.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/lugano?src=hash&amp;ref_src=twsrc%5Etfw\">#lugano<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/planb?src=hash&amp;ref_src=twsrc%5Etfw\">#planb<\/a> announced <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/tether?src=hash&amp;ref_src=twsrc%5Etfw\">#tether<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/luga?src=hash&amp;ref_src=twsrc%5Etfw\">#luga<\/a> (CHF stablecoin) as legal tender.<br \/>Here are all the things that you can pay for within few months in the city.<br \/> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/xkNA9Sp4Xw\">pic.twitter.com\/xkNA9Sp4Xw<\/a><\/p>\n<p>\u2014 Paolo Ardoino (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1499472211232571395?ref_src=twsrc%5Etfw\">March 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nArdoino cited the work El Salvador lawmakers had done for the adoption of cryptocurrencies. In September 2021, the country\u2019s Bitcoin Law went into effect, allowing all residents and visitors to use BTC as legal tender alongside the U.S. dollar. The Swiss franc remains legal tender in Lugano and across Switzerland.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Mexican senator to propose crypto law: \u2018We need Bitcoin as legal tender\u2019<\/em><\/strong><strong><em>]<\/em><\/strong><\/p>\n<p>As part of the partnership, Tether said it would create a fund of up to 100 million Swiss francs to help finance blockchain-based startups in the region and create crypto unicorns \u2014 projects that reach a $1 billion valuation. Polygon will also act as an infrastructure partner for stablecoin settlements in Lugano. <\/p>\n<p>With a population of roughly 63,000 people, Lugano is Switzerland&#8217;s 8th-largest city and will host the Bitcoin World Forum conference in October. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/the-city-of-lugano-will-accept-bitcoin-tether-and-lvga-token-as-de-facto-legal-tender\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; The city of Lugano will accept Bitcoin, Tether and LVGA tokens as &#8216;de facto&#8217; legal tender &#8220; Switzerland\u2019s southern city of Lugano plans for many local businesses to accept some cryptocurrencies as &#8220;de facto&#8221; legal tender as part of a partnership with Tether (U. Speaking at the city\u2019s Plan B event on Thursday, Tether&#8230;<\/p>\n","protected":false},"author":1,"featured_media":411889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZGVmODk0NjItODlkYS00MDA0LTgyYjgtMzZkMWI1OGU2MGEzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,70934,74151,36041],"class_list":["post-411888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-regulation","tag-switzerland","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/411888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=411888"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/411888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/411889"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=411888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=411888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=411888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}