Liechtenstein weighs Bitcoin as legal tender

First El Salvador, now Liechtenstein? The tiny principality could become the next state to allow legal payments with Bitcoin.

According to a recent interview with The German Handelsblatt Liechtenstein citizens will be able to pay for government services with Bitcoin in the future. According to Liechtenstein's head of government and finance minister, Daniel Risch.

BTC payments must then be immediately converted into the country's own currency, the Swiss franc. A timetable for implementation is currently unknown.

Liechtenstein is known for its crypto-friendly policies. With the "Liechtenstein Blockchain Act," the country was among the first to introduce comprehensive regulation of digital assets in 2019.

Along with Switzerland, Liechtenstein has since been considered one of the most important crypto financial centers in Europe. With the latest developments, the principality joins the growing list of states particularly open to blockchain technology.

After EL-Salvador to become first country in the world to introduce Bitcoin as legal tender in 2021, followed the Swiss municipalities of Zug and Lugano. There, too, taxes and other services can be paid with BTC.