Payments for state services with Bitcoin, a possibility being contemplated by the Liechtenstein government.

According to statements by Prime Minister Daniel Risch to the German newspaper Handelsblatt, the Liechtenstein government plans to accept bitcoin as payment for state services.

According to Risch, the proposal provides for the immediate exchange of any cryptocurrency received for Swiss francs, to avoid exchange rate risks. In addition, it highlights that the franc is the official currency of the principality and bitcoin does not have the same status.

The prime minister, who also serves as finance minister, expressed his openness to investing state reserves in crypto assets in the future. Taken together, the German newspaper notes that every year, the debt-free country saves up to three times its annual budget of $1 billion, investing the money in securities.

According to Daniel Risch “Crypto assets like bitcoin are currently still too risky.” “But this assessment may change.”

Published by Emirates Herald, news and information agency.

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