Liechtenstein Prime Minister Says Authorities to Settle for Bitcoin Funds, Open to Investing Reserves in BTC

Liechtenstein’s prime minister has reportedly revealed that bitcoin funds can be accepted for some authorities providers. “A fee possibility with bitcoin is coming,” he stated, including that he’s open to investing state reserves within the cryptocurrency.

Bitcoin Adoption in Liechtenstein

Daniel Risch, Liechtenstein’s prime minister who additionally serves because the nation’s finance minister, has reportedly revealed that Liechtenstein plans to simply accept bitcoin funds for sure authorities providers. He stated in an interview with German enterprise each day Handelsblatt Sunday with out giving a particular timeframe:

A fee possibility with bitcoin is coming.

Risch defined that Liechtenstein plans to simply accept bitcoin and instantly trade BTC for Swiss francs, the nationwide forex, with a view to keep away from exchange-rate dangers. He additionally clarified that the cryptocurrency wouldn’t be granted equal standing because the Swiss franc.

The prime minister moreover informed the information outlet that he was open to investing state reserves in bitcoin sooner or later.

Liechtenstein’s reserves, presently amounting to roughly 2.23 billion Swiss francs ($2.51 billion), are invested largely in securities, Handelsblatt reported, citing the finance ministry.

Risch was additional quoted by Reuters as saying:

Cryptocurrencies like bitcoin are nonetheless too dangerous. However this evaluation can in fact change.

In October 2019, Liechtenstein’s legislature approved the “Token and Reliable Know-how Service Suppliers Act” (abbreviated TVTG in German). The federal government famous in its announcement on the time that with the brand new regulation, Liechtenstein turns into the primary nation to comprehensively regulate the token economic system.

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