The canton of Zug in Switzerland is often called Crypto Valley because many cryptocurrency firms started in Zug or moved their headquarters to Zug. Zug is attracting big IT companies and also start-ups because of the affordable office places, good infrastructure, and fast Internet connection. Zug’s taxes are twice as low as the average in Switzerland, which offers a crucial competitive advantage. On a national level, in May 2015, Bitcoin was exempt from Swiss VAT, which increased legal certainty for companies like Bitcoin Suisse AG. Since July 1, 2016 Zug authorities started to accept Bitcoin payments for municipal costs. Overall, Zug is open for crypto business!