Liechtenstein plans to accept Bitcoin as a means of payment

Liechtenstein plans to accept Bitcoin as a means of payment for government services, German news platform Handelsblatt said. report. All Bitcoin that Liechtenstein receives in the future will probably convert it immediately into Swiss francs, but the idea is of course nice. With this, the country is not yet following El Salvador, but it is at least a piece of recognition for Bitcoin.

There is hope

In conversation with the German newspaper, the Prime Minister and Finance Minister of Liechtenstein, Daniel Risch, says that he still considers crypto and Bitcoin to be a risky business. “Crypto like Bitcoin are still too risky right now. But that view may change,” Risch told Handelsblatt.

There is hope in that regard that Liechtenstein changes its stance and chooses to park part of the country’s reserves in Bitcoin. How cool would it be if a European country followed in El Salvador’s footsteps.

That’s something Bitcoin could really use. The chance of that seems minimal, but of course you never know. Crazier things have happened in the world and with the acceptance of Bitcoin as a means of payment for government services, Liechtenstein is taking a nice first step.

Liechtenstein and Bitcoin

Liechtenstein is already seen as a favorable location within the industry. In 2016, the country’s financial regulator published guidelines for companies within the crypto industry, giving them a lot of clarity regarding the treatment of crypto within the country’s laws and regulations.

That is something that the United States can still learn from. There, even in 2023, there is still a lot of uncertainty about the legal status of altcoins in particular. You’ve probably noticed that the Securities and Exchange Commission (SEC) is hitting hard in the United States and that many companies are affected by it.

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The listed Coinbase is a good example of this. Coinbase always tries to comply, but still struggles to comply with all the rules in the United States. In that respect, countries like Liechtenstein, small as they are, are more than welcome for the industry.

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