Pay taxes, or even the nursery or canteen in Bitcoin? This is the plan carried by the principality of Liechtenstein, which seems increasingly interested in cryptographic currency. If the project has not yet been officially presented, the head of government and Minister of Finance, Daniel Risch, has just announced in an interview with the German daily Handelsblatt that "a payment option in Bitcoin will soon be put in place" for residents.
Without giving more details or a timetable, the Prime Minister still explained that payments in Bitcoin should be accepted from certain government utilities. Cryptocurrencies that will not be held by the Liechtenstein Treasury, and will be immediately exchanged for Swiss francs, the local currency. The only solution is for them not to be dependent on the volatility of the crypto market.
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The micro-State, a precursor in this field
This initiative is further proof of the interest of the micro-state in this subject, which had already put in place in 2019 a regulation dedicated to cryptos, the "Liechtenstein Blockchain Act", in order to strengthen investor protection and fight against money laundering. A pioneer in this field in Europe, the country had since managed to attract many companies specializing in the fields of blockchains and cryptocurrencies. This new project could convince more.
Liechtenstein is not the only country taking an interest in this issue. In Switzerland, local authorities have also taken steps to allow certain taxes and other expenses made with public services to be paid in Bitcoin. According to the specialized site BeInCrypto, this is particularly the case in the cantons of Zug and Lugano, where it has become common to pay certain taxes thanks to digital currency.