Quote from: Nyben on August 14, 2022, 08:29:24 PM

The use of cryptocurrency is has increase over the years as many people now see crypto as an alternative to the fiat. My question is if the government legalize cryptocurrencies are means of payment, what will be the implications on the global economy?

There isn't a global authority that cracks down on crypto usage, and most countries today with large economies already allow crypto as a means of payment. Bitcoin is already a portion of the global economy, albeit not very large compared with other assets.

Quote from: naira on August 15, 2022, 06:13:50 AM

Quote from: Nyben on August 14, 2022, 08:29:24 PM

My question is if the government legalize cryptocurrencies are means of payment, what will be the implications on the global economy?

Governments already have CBDC and they will be much more amenable to rejecting cryptocurrencies that are beyond their reach. Because governments don't want to take further risks when control is not with them. The government owns the banks and the position of the banks is not to like cryptocurrencies at all which always makes them lose the profits from the taxes created. The habit of escaping taxes to crypto is the only thing that has until now been the reason why CBDC was created.

CBDC's aren't in mainstream usage right now, they're not a factor that's contributable to a country's economy that I've seen, and they're certainly not a player in the global economy.