Liechtenstein Government to Accept Bitcoin for State Services

Liechtenstein's Prime Minister and Finance Minister, Daniel Risch, has announced plans to accept Bitcoin as payment for government services, although he did not give a timeframe. The country is unlikely to hold onto the Bitcoin it receives, instead immediately exchanging it for Swiss francs to avoid volatility. Liechtenstein is part of the European Economic Area, where the EU's Markets in Crypto-Assets regulation could apply, attracting more crypto firms to the region. The country follows a similar course to nearby Swiss communities of Zug and Lugano, which accept Bitcoin for some taxes and public services.