Liechtenstein Prime Minister Daniel Risch announced plans to accept Bitcoin as payment for government services, according to Cointelegraph.
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” (hold onto) the satoshis it receives. Instead, it will accept deposits in Bitcoin and immediately exchange them for Swiss francs, the national currency. The direct exchange into fiat money sidesteps the currency’s volatility.
Despite not being a European Union member, Liechtenstein is part of the European Economic Area, where the EU’s Markets in Crypto-Assets (MiCA) regulation could apply. This regulatory clarity could attract more crypto firms to the region.
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