“Bitcoin is a Declaration of Independence." - Michael Saylor

Happy Tuesday, Bitcoiners!

It's The Bitcoin Dispatch, here with your daily dose of Bitcoin news!

In today’s newsletter:

• Binance will finally integrate Lightning Network.

• Liechtenstein Leaps into Bitcoin Payments for Government Services.

⚡ Binance will finally integrate Lightning Network

Binance, the leading ‘crypto’ exchange, recently faced some operational turbulence. It had to hit the pause button on Bitcoin withdrawals, not once but twice, due to an escalating backlog of transactions. This congestion issue was largely attributed to the surge in BRC-20 tokens that are built atop the Bitcoin blockchain, resulting in more than 450,000 transactions awaiting processing and transaction fees soaring to $13+.

In response to this bottleneck, Binance has announced its strategic plan to incorporate the Lightning Network, a second-layer Bitcoin scaling solution, into its platform. This move will provide an alternative pathway for users to evade the high fees levied by the Bitcoin network during periods of congestion. Reflecting on the situation, Binance acknowledged it as a "learning opportunity," vowing to implement measures to prevent a recurrence.

At least something came out good out of this spam mess.

Source: Binance

🇱🇮 Liechtenstein Leaps into Bitcoin Payments for Government Services

Well, well, well, look who's hopping on the Bitcoin bandwagon: none other than Liechtenstein's Prime Minister, Daniel Risch. Apparently, Bitcoin is no longer just for buying pizza or hiding assets from ex-wives; it's also about to become a way to pay for government services. You heard it right, folks. The tiny nation most people can't even find on a map is leaping into the Bitcoin world. Risch, who's also moonlighting as the finance minister, dropped this bomb: “A payment option with Bitcoin is coming.” But don't get too excited; he didn't say when. And the fun doesn't stop there. The government isn't going to "hodl" the Bitcoin it receives. Nope, they'll exchange it for Swiss francs.

Despite being a microscopic speck in Europe, Liechtenstein is making some big Bitcoin moves. Picture this: the country is like Gibraltar and the Isle of Man, but with way better chocolate. It's already a buzzing Bitcoin hub thanks to the Liechtenstein Blockchain Act passed in 2019. Now, they're trying to outdo Swiss towns Zug and Lugano, where you can pay for your Big Mac with Bitcoin. Maybe they'll surprise us all and become the world's second Bitcoin nation after El Salvador. Now wouldn't that be something?

Source: Bloomberg

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That's a wrap for today. Until next time.

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