2023-05-08 12:54:43
Liechtenstein is considering accepting bitcoin payments for some public services, Prime Minister Daniel Risch, head of finance, told German media outlet Handelsblatt on Monday.
According to the government’s proposal, bitcoin would enjoy a status equivalent to that of the Swiss franc, the official currency of Liechtenstein. Cryptocurrency payments would be immediately converted into francs to avoid risks associated with exchange rate fluctuations, the Prime Minister explained.
The latter also said that Liechtenstein was ready to invest part of its financial reserves in bitcoin, but that it was still too early. “Cryptoassets such as bitcoin are currently too risky,” he said. “But that assessment may change.”
Nestled between Switzerland and Austria, Liechtenstein is a solid state financially since it has no debt. The country holds 2.2 billion francs in reserves, which is about 2.5 times its annual budget, according to Handelsblatt.
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