#mundocrypto Cryptocurrencies for paying taxes: the countries that already accept this option

Pioneers in the acceptance of crypto taxes

One of the first to take the step was Switzerland, specifically the canton of Zug, known as "Crypto Valley". Since 2021, residents can pay up to 100,000 Swiss francs (approximately $108,000) in taxes with Bitcoin and Ethereum. The process converts the cryptos to Swiss francs at the time of payment, managed by the company Bitcoin Suisse. Other cantons, such as Zurich, have followed suit, consolidating Switzerland as a leader in financial innovation.

Bermuda also stood out by becoming the first government to accept stablecoins like USDC for taxes in 2019. This measure, aimed at residents and businesses, seeks to integrate cryptocurrencies into its economy, leveraging its status as a tax haven. Although the volume of crypto payments remains small, Bermuda sends a clear signal of openness towards digital currencies.

In El Salvador, where Bitcoin has been legal tender since 2021, citizens can use BTC to pay taxes. After eliminating taxes on technological innovation in 2023, the country has simplified the process, although mass adoption is still limited by infrastructure and preference for the dollar. Nonetheless, El Salvador stands out as a unique case by merging crypto and fiscal policy.