Liechtenstein is planning to add bitcoin (BTC) as a payment option for government services, German news outlet Handelsblatt reported on Sunday.

Daniel Risch, Liechtenstein’s Prime Minister, told the newspaper that any crypto received as payment would likely be exchanged immediately for Swiss Francs, Liechtenstein’s national currency.

The European Union has now completed its landmark licensing regime, known as the Markets in Crypto Assets Regulation (MiCA). This could attract crypto firms looking for regulatory clarity to the region. Liechtenstein, although not a member state of the EU, is part of the larger European Economic Area (EEA) and can therefore benefit from the framework.

Risch, also the country’s Finance Minister, didn’t specify a timeframe for adding the option of payment, according to the article.

The Prime Minister has reportedly indicated that although crypto is still too volatile to trust portions of the multi-billion-dollar annual savings of the country, this could change.

Crypto like bitcoin is still considered too risky. Risch said to the newspaper that this assessment could change.

Read more: Digital Asset Tech Provider Metaco Secures Partnership With Liechtenstein Private Bank

Parikshit Miishra is the editor.