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?
Due to the nature of cryptocurrency as being volatile, It’s very to get even a slightest approval for crypto to become a legal tender. Only few country do this and the most popular was El Salvador which didn’t go well because there people protest about there leader moves that result to huge loss of there countries funds. The government wouldn’t allow this to happened because this will change the global economy and will make fiat less use since people will choose the currency with limited supply over fiat that is probe to inflation.