According to Prime Minister Daniel Risch, under the proposed plans, any cryptocurrency received will be promptly converted into Swiss francs, as stated in an interview with German news publication Handelsblatt.
According to a report by German news outlet Handelsblatt, Liechtenstein intends to introduce bitcoin (BTC) as a payment method for government services.
Liechtenstein’s Prime Minister Daniel Risch has mentioned to the newspaper that any cryptocurrency received as payment will most likely be promptly converted into the country’s national currency, the Swiss franc.
The European Union is in the final stages of developing the Markets in Crypto Assets (MiCA) regulation, a significant licensing framework that aims to attract crypto companies seeking regulatory clarity to the region. While Liechtenstein is not an EU member, it belongs to the larger European Economic Area (EEA), which allows for the potential extension of the regulatory framework’s relevance to Liechtenstein.
According to the report, Prime Minister Daniel Risch, who also serves as Liechtenstein’s finance minister, did not provide a specific timeline for the implementation of the payment option.
The Prime Minister reportedly indicated that while the volatility of cryptocurrencies currently makes it unsuitable for allocating portions of the country’s multi-billion dollar annual savings, this situation could potentially change in the future.
According to the newspaper, Prime Minister Risch stated that cryptocurrencies like bitcoin are currently considered too risky. However, he acknowledged that this assessment could potentially change in the future.
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