In a report by the German news outlet, Handelsblatt, Liechtenstein is set to include Bitcoin as a payment option for government services. The move comes as the country aims to adopt a more crypto-friendly stance.
Risch has confirmed that any cryptocurrency received as payment for government services will be converted into Swiss francs, the country’s national currency, told to Handelsblatt.
As the EU nears the finalization of its Markets in Crypto Assets (MiCA) regulation, which could attract crypto firms seeking regulatory clarity, non-EU member Liechtenstein, which is part of the European Economic Area (EEA), could also benefit from the framework’s extended relevance.
Also Read: European Lawmakers give Green Light to MiCA Crypto Regulation
Liechtenstein’s Prime Minister and Finance Minister Daniel Risch did not provide any details on the timeline for the implementation of Bitcoin as a payment option for government services, as reported by Handelsblatt.
Risch reportedly said that cryptocurrencies like bitcoin are too risky to trust with the country’s multi-billion dollar annual savings, but added that this assessment could change in the future. He did not provide a specific timeline for when the assessment might change.
