The Prime Minister of Liechtenstein, Daniel Risch, has announced that citizens will soon be able to pay for government services using Bitcoin.
In a recent interview, Risch revealed that the European microstate intends to accept payment in Bitcoin, which will then be immediately exchanged for Swiss francs, the national currency.
Liechtenstein’s move towards accepting Bitcoin payments for government services is in line with similar initiatives taken by Swiss communities Zug and Lugano.
These local authorities have made Bitcoin payments legal for certain taxes and public service expenses, with even McDonald’s in Lugano accepting Bitcoin payments.
This is not the first time Liechtenstein has made headlines for its crypto-friendly policies. In 2019, it became one of the first countries in the world to pass dedicated crypto regulation with the Liechtenstein Blockchain Act.
Since then, various crypto-focused businesses have set up shop in the country, positioning Liechtenstein as one of a handful of European finance hubs catering to the growing market for crypto banking and investment services.