What are the global experiences in legalising cryptocurrencies?
Categories: Crypto News
The most significant example of legally adopting crypto into a nation’s economy has been that of El Salvador, which made Bitcoin a legal tender in September 2021. But the initiative has since been marred with problems such as technical glitches and identity fraud, in addition to a conflict between the decentralised nature of Bitcoin and an authoritarian government in El Salvador. Other than the Central American country, several other jurisdictions are attempting to legalise private cryptocurrencies, like Bitcoin and Ethereum, or are launching Central Bank Digital Currencies (CBDC) that are digital currencies backed by the state.