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?
You said it yourself that crypto was seen as an
alternative to the fiat currency. Technically, it was created as a compliment to fiat not to dethrone or make fiat obsolete because crypto bridged the gap in border to border transactions.
Therefore, there won't be any form implications on the global economy. It's just the government hate the citizen having liberation and I'm sure if Bitcoin is centralized it will be already legalized globally as we speak.