Liechtenstein won’t keep its savings in crypto yet, the prime minister has cautioned
RT.com | 8 May, 2023 14:59
The government of Liechtenstein is considering accepting Bitcoin as payment for state services, the micro-state’s Prime Minister Daniel Risch told Handelsblatt on Sunday. Risch, who is also Liechtenstein’s finance minister, said that a “Bitcoin payment option is coming.”
The official didn’t specify what particular services will become available for payment in the digital currency, or when the announced payment method would become available.
Any crypto received will be immediately exchanged for Swiss francs, Liechtenstein’s national currency, Risch said.
Although crypto is too volatile to entrust portions of the country’s multi-billion-dollar annual savings, that assessment could change, he added. Bitcoin would not, however, be accorded the same legal status as the franc.
Liechtenstein is a German-speaking microstate located in the Alps between Austria and Switzerland. It is the world’s sixth smallest nation, with a population of under 39,000 people. In 2019, the principality became one of the first places in the world to pass dedicated crypto regulations with The Liechtenstein Blockchain Act.