Liechtenstein to make Bitcoin as a Payment Method for Public Services

Liechtenstein set to Enable Bitcoin as a Payment Method for Public Services

Liechtenstein's Prime Minister, Daniel Risch, announced in an interview that the country will soon allow the use of Bitcoin to pay for government services.

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However, he did not provide a specific timeline for the implementation of this payment option.

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According to Risch, the country is likely to accept Bitcoin deposits and then instantly exchange them for the Swiss franc, the national currency.

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This approach is similar to that of other Swiss communities, such as Lugano or Zug, where residents can use Bitcoin to pay for government services.

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Liechtenstein is the sixth smallest country in the world and is located between Austria and Switzerland.

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In 2019, the country became one of the first to adopt legislation specifically dealing with blockchain and crypto.

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The TVTG has created a regulated environment for token-related services, leading to an increase in crypto-related businesses in the country since its implementation in 2020.

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