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Liechtenstein to allow payment for certain state services in Bitcoin

Variety

08-05-2023 | 08:22

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Liechtenstein to allow payment for certain state services in Bitcoin

Liechtenstein plans to allow Bitcoin payments for certain state services, Prime Minister Daniel Risch told the German business daily Handelsblatt in an interview.

"A payment option with Bitcoin is coming," Risch said in the interview on Sunday, without giving a specific timeframe.

Risch, who is also Liechtenstein's finance minister, said the country plans to accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency.

The prime minister said there was no plan for any big risks with state money but added he was open to investing state reserves in Bitcoin in the future.

The state's reserves, which are primarily invested in the capital market, currently amount to 2.23 billion Swiss francs, ($2.51 billion), Handelsblatt reported, citing the finance ministry.

"Cryptocurrencies like Bitcoin are still too risky. But this assessment can of course change," said Risch.

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