Liechtenstein’s Government Plans to Accept Bitcoin for Payments

(Bloomberg) -- Liechtenstein’s government is planning to accept Bitcoin as payment for state services, Prime Minister Daniel Risch told German newspaper Handelsblatt.

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The proposal envisages immediately swapping any cryptocurrency received for Swiss francs, in order to avoid exchange-rate risks, according to Risch. The franc is the principality’s official currency and Bitcoin wouldn’t be granted equal status, he said.

Risch — who also serves as finance minister — signaled openness to investing state reserves in cryptoassets in the future. Each year, the debt-free country saves as much as three times its 900 million-franc ($1 billion) annual budget, investing the money in securities, Handelsblatt said.

“Cryptoassets like Bitcoin are currently still too risky,” Risch said. “But this assessment can change.”

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