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Rustmilian ,
@Rustmilian@lemmy.world avatar

No, no major government has completely adopted cryptocurrency as legal tender. El Salvador became the first country in the world to do so in September 2021, but there have been significant challenges :

  • Volatility: Cryptocurrencies like Bitcoin are known for their price swings, making them less than ideal for everyday purchases.
  • Consumer protection: Concerns exist about the risks faced by Salvadoran consumers, especially those unfamiliar with the complexities of cryptocurrency.
  • Business adoption: Businesses have been slow to embrace Bitcoin due to technical hurdles and a lack of customer demand.

Cryptocurrencies are still considered too volatile and risky by most governments for everyday transactions.

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