Liechtenstein Government to Allow Bitcoin Payments in Planned Move

As per the statement of Prime Minister Daniel Risch to German newspaper Handelsblatt, Liechtenstein's government intends to allow Bitcoin to be used as payment for state services.

Under the proposal outlined by Risch, Bitcoin or cryptocurrency received by the government would be immediately converted to Swiss francs to “mitigate exchange-rate risks.”

While the franc remains the official currency of the principality, Bitcoin would not be given equal status.

In addition to his role as Prime Minister, Risch also holds the position of Finance Minister and has expressed interest in potentially investing state reserves in Bitcoin and cryptocurrencies.

According to Handelsblatt, the debt-free country saves up to three times its 900 million-franc ($1 billion) annual budget each year and invests the funds in securities.

Risch stated that “cryptoassets like Bitcoin are currently still too risky.” But added that “this assessment can change.”