European microstate Liechtenstein;has announced its;plans to accept Bitcoin (BTC) as a payment method for government services.
The plans were directly revealed by the nation's prime minister, Daniel Risch.
Risch said the country would immediately convert cryptocurrencies that come as payment into Swiss francs, Liechtenstein's national currency.
- The Prime Minister did not specify when Bitcoin will be added as a payment option.
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Risch also stated that cryptocurrencies' volatile nature could change at one point, though they are still too risky to commit a significant share of the nation's multi-billion dollar
treasury.
The Principality of Liechtenstein is a German-speaking microstate located between Austria and Switzerland.
- It is the sixth smallest nation in the world.
- Daniel Risch is also the nation's finance minister.
