Paying for Government Services in Bitcoin Coming to Liechtenstein, According to Prime Minister: Report

Paying for Government Services in Bitcoin Coming to Liechtenstein, According to Prime Minister: Report

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The prime minister of Liechtenstein has reportedly announced potential plans to accept Bitcoin (BTC) payments for certain public services.

Although a timeline of the plan was not fully disclosed, in a recent interview with German news outlet Handelsblatt, Daniel Risch says that a “Bitcoin payment option is coming.”

Risch, who also serves as the country’s finance minister, said the government would likely want to exchange the Bitcoin for Swiss francs immediately upon accepting payment.

The prime minister also said the country was open to cryptocurrency investments, but didn’t go into specific details, as he says BTC is still a high-risk investment for nation-states.

“Crypto assets like Bitcoin are currently still too risky…But this assessment can change.”

In 2019, Liechtenstein became one of the first countries to pass clear crypto regulation with the Liechtenstein Blockchain Act, which helped bring in more crypto businesses to the country, including the Liechtenstein Cryptoassets Exchange (LCX), which also has offices in Zug’s “Crypto Valley.”

Liechtenstein’s commitment to crypto technology is further solidified by its partnerships with Swiss companies such as Sygnum, one of the world’s leading crypto-focused banks, and Metaco, a digital infrastructure provider that helps the country offer crypto custody services to its clients.

By accepting Bitcoin payments for government services, Liechtenstein aims to build on its legacy banking sector and to further strengthen its position as a crypto-friendly nation.

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Featured Image: Shutterstock/AVA Bitter

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