Seen as global first, Swiss town to accept bitcoin payments

A Swiss town that is billing itself as a hub for the digital currency industry will accept bitcoin for some payments starting this summer, in what proponents call a worldwide first by a government body and a sign that "crypto finance" is growing in legitimacy.

The town council in northern Zug last week approved plans to accept payments of up to 200 Swiss francs (about $200) for municipal registration fees starting July 1, in what Mayor Dolfi Mueller called Wednesday an "experiment" aimed at making the digitally-minded town a pioneer in finance.

Many in Zug tout the town's reputation as part of "Crypto Valley," with some 15 companies linked to...