The Prime Minister of Liechtenstein, Daniel Risch, has announced plans to allow citizens to pay for government services with Bitcoin. While details of the plan are still scarce, Risch stated in a recent interview that a “Bitcoin payment option is coming.”
Under this plan, the European microstate would accept Bitcoin payments for government services and then immediately exchange them for Swiss francs, the national currency.
This approach is similar to the ones used by the Swiss communities of Zug and Lugano, where local authorities have made Bitcoin payments legal for certain taxes and public service expenses. Even McDonald’s accepts Bitcoin in Lugano.
This is not the first time Liechtenstein has made headlines for its crypto-friendly policies. In 2019, it became one of the first countries in the world to pass dedicated crypto regulation with the Liechtenstein Blockchain Act. Since then, several crypto-focused businesses have set up shop in the country.
Together with Switzerland’s Zug and Lugano, Liechtenstein has emerged as one of the few European finance hubs catering to the growing market for crypto banking and investment services.
The Prime Minister’s latest proposal is a significant step forward for the cryptocurrency industry and demonstrates the government’s commitment to embracing this new technology.
