Swiss Canton of Zug Raises BTC and ETH Tax Threshold Above $1.6M

The Swiss canton of Zug raised the tax threshold for Bitcoin and Ethereum from CHF 100,000 to CHF 1.5 million (more than USD 1.6 million) from the previous CHF 100,000, while payments issued by scanning tax authorities will be allowed from the second half of 2023. The QR code on the bill directly uses cryptocurrency to pay taxes. Previously, Zug began to accept Bitcoin and Ethereum for tax payment in February 2021.