Cardano’s Charles Hoskinson Announces That Swiss Canton Zug Will Accept Taxes In Crypto

The mainstream adoption of digital assets and the underlying technology, the blockchain, has been the main goal of the crypto space.

A lot of moves have been made in this direction and successful achievements continue to appear.

Charles Hoskinson has an announcement

Now, Cardano’s Charles Hoskinson made an announcement on his social media account.

The announcement received positive feedback in the comments.

Someone said: “Not quite yet..It will be truly cool to see your profile on one side of the physical coin…wicked grin and cigar in mouth..”

Another follower posted this: “I saw proposal that US might not tax staking rewards as income unless they are spent. Sort of like growing corn. You have to sell it to generate income. That would be awesome Grinning face. Then arbitrage against USD via borrowed dollars.”

A person posted: “It is great that it is not only BTC and also ETH is accepted. So hopefully they will accept ADA soon.”

Coindesk notes: “From next February, citizens and companies based in Zug will be able to pay up to 100,000 CHF (around $109,000) of their taxes in either bitcoin (BTC) or ether (ETH).”

The online publication continues and notes that “No partial payments in cryptocurrency will be accepted. For the initiative, authorities have partnered with the Zug-based crypto broker and custodian Bitcoin Suisse, which will convert cryptocurrency payments into Swiss francs and hand them over to the tax office.”

Shelley ADA wallets ate supported in Yoroi mobile

In other news, the other day, we reported that Cardano just dropped an exciting piece of news for the community, and it has to do with the ADA wallets and Yoroi Mobile.

Check out the tweet that was shared by the Cardano community:

Stay tuned for more Cardano news.


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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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