Bitcoin takes flight in Liechtenstein: Minister proposes government services paid in crypto
Prime Minister Daniel Risch of Liechtenstein told local papers that Bitcoin is set to play a growing role in government services payments. Liechtenstein Prime Minister Daniel Risch announced plans to accept Bitcoin (BTC) as a form of payment for government services. As reported in local news, the micro-European nation continues to embrace blockchain technologies. Risch, who also serves as finance minister is quoted as saying: “A payment option with Bitcoin is coming.” However, he did not give a timeframe. Moreover, the principality is unlikely to accept Bitcoin and “HODL” or hold onto the Satoshis it receives. Instead, it will accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency. The direct exchange into fiat money sidesteps the currency’s volatility. Despite not being an EU member, Liechtenstein is part of the European Economic Area (EEA), where the EU's forthcoming Markets in Crypto Assets (MiCA) regulation could apply. This regula...