Liechtenstein Joins Switzerland's Crypto Hubs and Plans to Accept Bitcoin for Government Services
Liechtenstein is set to introduce Bitcoin payments for government services, following in the footsteps of Swiss communities Zug and Lugano, as it emerges as one of the growing European finance hubs for crypto banking and investment services.
Liechtenstein is set to join other Swiss crypto hubs in accepting Bitcoin as a payment option for government services. Prime Minister Daniel Risch confirmed that the European microstate would accept payment for government services in Bitcoin and exchange them immediately for Swiss francs.
This move follows similar approaches taken by Swiss communities Zug and Lugano, which have made Bitcoin payments legal for the payment of certain taxes and public service expenses. Liechtenstein has previously made headlines for its crypto-friendly policies, having passed the Liechtenstein Blockchain Act in 2019, and various crypto-focused businesses have set up shop in the country.
Liechtenstein, along with Switzerland, has emerged as one of a handful of European finance hubs catering to the growing market for crypto banking and investment services. The combination of progressive policy stances with deep-rooted financial services industries is helping the region carve out a specialized niche within the global crypto space. The Swiss digital bank Sygnum and Liechtenstein’s VP Bank have also emerged as major players in the crypto-focused banking sector.
