The municipality of Zermatt, Switzerland — domicile to the iconic Matterhorn — is now the second location in Switzerland where taxpayers are officially allowed to pay their taxes in Bitcoin (BTC).

In order to unlock the new tax payment option, the authorities of the Zermatt accept partnered with Switzerland'south major crypto financial services company Bitcoin Suisse.

Bitcoin Suisse to catechumen Bitcoin into Swiss francs

According to an announcement by Bitcoin Suisse, Zermatt started accepting Bitcoin equally a means of payment for local taxes and transactions on January. 28, 2022.

By partnering with Bitcoin Suisse, the authorities of Zermatt are now able to convert taxpayers' Bitcoin into Swiss francs through Bitcoin Suisse which then transfers the amount in fiat currency to the municipality's banking company business relationship.

Taxpayers are able to pay online or via Bitcoin Suisse's point-of-auction device

Specifically, local taxpayers will be able to pay their taxes in Bitcoin via a point-of-sale tool installed in the Zermatt town hall or an online payment portal. Notwithstanding, in gild to pay taxes with Bitcoin online, the taxpayers volition accept to employ directly to the Zermatt Tax Role for a crypto payment solution, the announcement notes.

Romy Biner-Hauser, the mayor of Zermatt, outlined that the new revenue enhancement payment option aims to meet increased need for Bitcoin-based tax payments:

"An innovative, pioneering spirit is one of the trademarks of Zermatt, which is why we are happy to support residents in providing them with the solutions they crave."

The city of Zug became the outset in Switzerland to accept Bitcoin payments in 2022, Bitcoin Suisse said. As reported by Cointelegraph, the capital of Switzerland's "Crypto Valley" began accepting Bitcoin payments for certain city services such as public utilities in May 2022. The payment was reportedly capped at 200 francs worth of Bitcoin.

While Switzerland continues to aggrandize its crypto-financial services industry in terms of Bitcoin-powered tax payments, some global authorities accept recently deemed such an option too risky due to Bitcoin's loftier volatility.

On January. eight, lawmakers in the United States' New Hampshire country legislature retracted a bill that would have allowed state agencies to accept crypto every bit payment for taxes. According to lawmakers the initiative was "inexpedient to legislate" as Bitcoin's price is not stable.