Liechtenstein Plans to Accept Bitcoin Payments for Government Services

Liechtenstein, a small European country that is known for its pro-crypto policies, is considering to accept Bitcoin as a payment method for government services. Prime Minister Daniel Risch said in a recent interview that he wants citizens to be able to pay for public services with the leading cryptocurrency. He added that the payments would be immediately converted to Swiss francs, the national currency of Liechtenstein.

The move would make Liechtenstein one of the few countries in the world that allow Bitcoin payments for government services. Some Swiss communities, such as Zug and Lugano, have already implemented similar policies and have seen positive results in terms of promoting the crypto sector and attracting innovation.

Liechtenstein has been a pioneer in crypto regulation since 2019, when it passed the Liechtenstein Blockchain Act, which provides a comprehensive legal framework for digital assets and blockchain technology. The law has attracted many crypto-focused businesses to set up shop in the country, such as the Liechtenstein Cryptoassets Exchange (LCX), which also has offices in Switzerland’s “crypto valley”.