The Swiss canton of Zug said that it will now allow both companies and private individuals to pay their taxes in either Bitcoin or Ether, according to Bloomberg. The province is known for being the hub of numerous hedge funds, commodities brokers and, more recently, cryptocurrency firms; while this is the first time that the canton's citizens have been allowed to pay taxes with cryptocurrency, Bloomberg said that Zug has been accepting payments in digital assets for other government services since 2016.

Swiss taxpayers will not be able to pay all of their taxes in digital currencies, as they may only do so for up to $109,670, after which point sovereign currency must be used. Zug will be collaborating with broker Bitcoin Suisse AG, which will convert the digital currency into francs and transfer the payments to the state.

As digital currencies become increasingly mainstream, more government jurisdictions have come to accept them as tax payments. Currently cryptocurrencies can be used to pay taxes in the state of Ohio; Seminole County, Florida; and the Canadian towns of Innisfil and Richmond Hill. While a bill to let Arizona accept digital currencies as tax payments passed the legislature, it was vetoed by the governor.