Liechtenstein to Accept Bitcoin for Gov’t Payments
VADUZ, LI – German news outlet Handelsblatt reported Monday that Liechtenstein is considering adding Bitcoin as a payment option for government services. Although the country’s prime minister, Daniel Risch, did not specify a timeline for implementing this new payment option, the move could signal Liechtenstein's willingness to embrace the crypto industry.
Risch, said that crypto received as payment would likely be immediately exchanged for Swiss francs, the country's national currency. Liechtenstein is not a member of the European Union, but it is part of the European Economic Area (EEA).
The European Union is finalizing its landmark licensing regime, the Markets in Crypto Assets (MiCA) regulation, which could draw crypto firms seeking regulatory clarity to the region. The relevance of this framework can be extended to the EEA, making Liechtenstein an attractive location for crypto businesses.
While the Prime Minister acknowledged the volatility of cryptocurrencies and said that they are currently too risky to entrust portions of the country's multi-billion dollar annual savings, he did not rule out the possibility of changing this assessment in the future.
