Liechtenstein’s prime minister has reportedly uncovered that bitcoin payments will be accepted for some government services. “ A payment option with bitcoin is nearing, ” he told, adding that he's open to investing state reserves in the cryptocurrency.
Bitcoin Adoption in Liechtenstein
Daniel Risch, Liechtenstein’s prime minister who similarly serves as the country’s finance minister, has reportedly revealed that Liechtenstein plans to accept bitcoin compensations for certain government services. He spoke in an interview with German business daily Handelsblatt Sunday without presenting a specific timeframe:
A payment option with bitcoin is coming.
Risch clarified that Liechtenstein plans to accept bitcoin and immediately exchange BTC for Swiss francs, the national currency, in ordering to avoid exchange- rate threats. He similarly cleared that the cryptocurrency would not be granted equal status as the Swiss franc.
The prime minister further told the news outlet that he was open to investing state reserves in bitcoin in the near future.
Liechtenstein’s reserves, presently amounting to roughly 2.23 billion Swiss francs ($2.51 billion), are invested substantially in securities, Handelsblatt reported, citing the finance ministry.
Risch was more quoted by Reuters as saying:
Cryptocurrencies like bitcoin are still too risky. But this assessment can of course change.
In October 2019, Liechtenstein’s legislature approved the “ Token and Trustworthy Technology Service Providers Act ”(abbreviated TVTG in German). The government remarked in its announcement at the moment that with the new law, Liechtenstein becomes the initial country to comprehensively regulate the token economy.
(Kevin Helms, Bitcoin.com, 2023)