While in China are going to prohibit bitcoin-exchange, the authorities of the Swiss city of Chiasso in the canton of Ticino announced the recognition of bitcoin as a means of payment. According to the city's mayor's office, from January next year its residents will be able to partially pay taxes on bitcoins. It is about amounts up to 250 Swiss francs (about $ 265). Such a decision was made by the authorities after consultations with local companies dealing with crypto-currencies and blocking.

"Chiasso has achieved international recognition as the epicenter of technological and economic growth in both the canton and Switzerland," said Mayor of Bruno Arrigoni. Over the past few months, eight start-ups have chosen a city for their headquarters.

Losing tax revenues from a reduction in the banking sector, the authorities of Chiasso searched for industries that can help with this, according to the head of the city administration Umberto Balsaretti. As a solution to this problem they came crypto-currencies, local authorities want to position Chiasso as a "cryptopolis" in order to attract innovative start-ups to the region.

Ticino is the second "cryptocanton" of Switzerland. In the summer of last year, the authorities of Zug announced that they would accept payments in bitcoins worth up to 200 Swiss francs, since then 40 such payments have been made, which exceeded the authorities' expectations.