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Liechtenstein’s government is planning to accept Bitcoin as payment for state services, Prime Minister Daniel Risch told German newspaper Handelsblatt.
The proposal envisages immediately swapping any cryptocurrency received for Swiss francs, in order to avoid exchange-rate risks, according to Risch. The franc is the principality’s official currency and Bitcoin wouldn’t be granted equal status, he said.
Risch — who also serves as finance minister — signaled openness to investing state reserves in cryptoassets in the future. Each year, the debt-free country saves as much as three times its 900 million-franc ($1 billion) annual budget, investing the money in securities, Handelsblatt said.
“Cryptoassets like Bitcoin are currently still too risky,” Risch said. “But this assessment can change.”
The proposal envisages immediately swapping any cryptocurrency received for Swiss francs, in order to avoid exchange-rate risks, according to Risch. The franc is the principality’s official currency and Bitcoin wouldn’t be granted equal status, he said.
Risch — who also serves as finance minister — signaled openness to investing state reserves in cryptoassets in the future. Each year, the debt-free country saves as much as three times its 900 million-franc ($1 billion) annual budget, investing the money in securities, Handelsblatt said.
“Cryptoassets like Bitcoin are currently still too risky,” Risch said. “But this assessment can change.”
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