{"id":16145,"date":"2023-10-03T13:28:19","date_gmt":"2023-10-03T13:28:19","guid":{"rendered":"https:\/\/coincrafty.com\/?p=16145"},"modified":"2023-10-03T13:28:56","modified_gmt":"2023-10-03T13:28:56","slug":"legal-tender-and-bitcoin-adoption-understanding-the-connection","status":"publish","type":"post","link":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/","title":{"rendered":"Legal Tender And Bitcoin Adoption: Understanding The Connection"},"content":{"rendered":"<ul>\n<li><span style=\"font-weight: 400;\">Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The adoption of Bitcoin as a legal tender refers to the utilization of Bitcoin in day-to-day financial expenses or official payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Countries might or might not be considering adopting Bitcoin as legal tender for multiple reasons, which include both the benefits and risks involved.\u00a0<\/span><\/li>\n<\/ul>\n<h2><b>Understanding Legal Tenders\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. Whether it is for facilitating trade or economic activities, it provides an accepted medium for transactions. This recognition ensures that people can engage in transactions with confidence, promoting smooth commerce within a country.\u00a0<\/span><\/p>\n<h2><b>What Is Bitcoin?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bitcoin came into existence in \u20182009\u2019 as a new form of digital currency.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It revolutionized the world of finance by becoming a decentralized form of asset.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It was developed by an individual or group of individuals, \u2018Satoshi Nakamoto,\u2019 to provide an alternative to traditional currencies.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It challenges traditional legal tender by existing outside government control and relying on cryptographic technology for security and consensus.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><b>Adopting Bitcoin As A Legal Tender<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As legal tenders and bitcoins are discussed separately, the adoption of bitcoin as a legal tender refers to the utilization of Bitcoin in day-to-day financial expenses or official payments. Even if a citizen wants to buy something in a shop, legalizing bitcoins will make it available for monetary transactions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin is not recognized as legal tender in most countries, such as Nepal, China, Bangladesh, etc. This is because it lacks government support and acceptance.<\/span><\/p>\n<h3><b>Benefits And Risks<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Countries might or might not be considering adopting Bitcoin as a legal tender for multiple reasons, which include both the benefits and risks involved.\u00a0<\/span><\/p>\n<p><b>Benefits\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Financial Inclusion<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Bitcoin can provide a way to participate in the digital economy and access financial services for countries with citizens without traditional banking services.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lower Remittance Costs<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For overseas Bitcoin transactions, no change of asset is required<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">As Bitcoin operates on decentralization, the fees charged by the banks are much higher than Bitcoin\u2019s transaction fees.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">This helps reduce the costs associated with international transactions while benefiting both individuals and the country&#8217;s economy.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Innovation and Attracting Investment<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Bitcoin could position a country as an innovative and tech-friendly environment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">This helps attract investment and talent in the digital space.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sovereign Monetary Policy<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Some countries might view <a href=\"https:\/\/coincrafty.com\/how-denial-of-service-dos-attack-is-fatal-for-bitcoin\/\">Bitcoin<\/a> as a way to diversify their monetary system and reduce dependence on a single currency.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Risks\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Price Volatility<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Uncertainty in day-to-day transactions affects people&#8217;s confidence in using Bitcoin as a currency.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory Challenges<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Accepting Bitcoin as legal tender requires setting up regulatory frameworks, and addressing concerns related to fraud, money laundering, and consumer protection.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exchange Rate Risk<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Bitcoin&#8217;s value is often pegged to other currencies, like the US dollar, so changes in its value can impact a country&#8217;s economy.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of Control<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">As Bitcoin&#8217;s value and supply are determined by its decentralized network, Countries adopting Bitcoin have to give up some control over their financial landscape for seamless transactions by their citizens.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><b>Other Cryptocurrencies Challenge<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Other cryptocurrencies, such as<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ethereum<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ripple<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Litecoin<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stablecoins<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Utility tokens<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These also challenge the concept of legal tender. These alternatives leverage blockchain technology to offer decentralized, efficient, and sometimes programmable forms of value exchange, driving a shift in how people perceive and use currencies beyond government-issued legal tender.<\/span><\/p>\n<h3><b>Global Impact On Legal Tenders\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Bitcoin&#8217;s adoption has prompted some to question the monopoly of government-issued legal tender. As people embrace alternative forms of value storage and exchange, their perception of traditional currencies may shift. Governments could face challenges in maintaining control over monetary policy if digital currencies gain widespread acceptance. Balancing the benefits of innovation with the need for economic stability becomes crucial as new forms of value compete with established legal tender systems.<\/span><\/p>\n<h4><b>Conclusion<\/b><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The relationship between legal tender and Bitcoin adoption is complex.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">While legal tender serves as a recognized medium of exchange, Bitcoin&#8217;s emergence challenges this concept by offering a decentralized alternative.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory uncertainties in the crypto space pose challenges, yet Bitcoin&#8217;s potential to reshape monetary systems is evident.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The evolving dynamics highlight the transformative nature of digital currencies in the financial landscape.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. The adoption of Bitcoin as a legal tender refers to the utilization of Bitcoin in day-to-day financial expenses or official payments. Countries&hellip;<\/p>\n","protected":false},"author":1,"featured_media":16146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[19538,19678,19679,19680],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Legal Tender And Bitcoin Adoption: Understanding The Connection<\/title>\n<meta name=\"description\" content=\"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legal Tender And Bitcoin Adoption: Understanding The Connection\" \/>\n<meta property=\"og:description\" content=\"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/\" \/>\n<meta property=\"og:site_name\" content=\"Coincrafty\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-03T13:28:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-03T13:28:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Radhe\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/coincrafty.com\/#organization\",\"name\":\"Coin Crafty\",\"url\":\"https:\/\/coincrafty.com\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coincrafty.com\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/coincrafty.com\/wp-content\/uploads\/2022\/01\/coincrafty.png\",\"contentUrl\":\"https:\/\/coincrafty.com\/wp-content\/uploads\/2022\/01\/coincrafty.png\",\"width\":200,\"height\":40,\"caption\":\"Coin Crafty\"},\"image\":{\"@id\":\"https:\/\/coincrafty.com\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coincrafty.com\/#website\",\"url\":\"https:\/\/coincrafty.com\/\",\"name\":\"Coincrafty\",\"description\":\"Trusted Source for Crypto &amp; Blockchain Industry Insights\",\"publisher\":{\"@id\":\"https:\/\/coincrafty.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coincrafty.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg\",\"contentUrl\":\"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Legal Tender And Bitcoin Adoption: Understanding The Connection\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage\",\"url\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/\",\"name\":\"Legal Tender And Bitcoin Adoption: Understanding The Connection\",\"isPartOf\":{\"@id\":\"https:\/\/coincrafty.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage\"},\"datePublished\":\"2023-10-03T13:28:19+00:00\",\"dateModified\":\"2023-10-03T13:28:56+00:00\",\"description\":\"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coincrafty.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Legal Tender And Bitcoin Adoption: Understanding The Connection\"}]},{\"@type\":[\"Article\",\"NewsArticle\"],\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage\"},\"author\":{\"@id\":\"https:\/\/coincrafty.com\/#\/schema\/person\/5bea0849396549ae17f0b1a52a91188c\"},\"headline\":\"Legal Tender And Bitcoin Adoption: Understanding The Connection\",\"datePublished\":\"2023-10-03T13:28:19+00:00\",\"dateModified\":\"2023-10-03T13:28:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage\"},\"wordCount\":706,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/coincrafty.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg\",\"keywords\":[\"Bitcoin\",\"Bitcoin Adoption\",\"Bitcoin As A Legal Tender\",\"Legal Tender\"],\"articleSection\":[\"Bitcoin\",\"blog\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/coincrafty.com\/#organization\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/coincrafty.com\/#\/schema\/person\/5bea0849396549ae17f0b1a52a91188c\",\"name\":\"Radhe\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coincrafty.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2adbeeba835bcf42d1471f61f2052f0a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2adbeeba835bcf42d1471f61f2052f0a?s=96&d=mm&r=g\",\"caption\":\"Radhe\"},\"description\":\"Wow! I can't believe we finally got to meet in person. You probably remember me from class or an event, and that's why this profile is so interesting - it traces my journey from student-athlete at the University of California Davis into a successful entrepreneur with multiple ventures under her belt by age 25\",\"sameAs\":[\"https:\/\/coincrafty.com\"],\"url\":\"https:\/\/coincrafty.com\/author\/radhe\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Legal Tender And Bitcoin Adoption: Understanding The Connection","description":"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/","og_locale":"en_US","og_type":"article","og_title":"Legal Tender And Bitcoin Adoption: Understanding The Connection","og_description":"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \u00a0","og_url":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/","og_site_name":"Coincrafty","article_published_time":"2023-10-03T13:28:19+00:00","article_modified_time":"2023-10-03T13:28:56+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Radhe","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/coincrafty.com\/#organization","name":"Coin Crafty","url":"https:\/\/coincrafty.com\/","sameAs":[],"logo":{"@type":"ImageObject","@id":"https:\/\/coincrafty.com\/#logo","inLanguage":"en-US","url":"https:\/\/coincrafty.com\/wp-content\/uploads\/2022\/01\/coincrafty.png","contentUrl":"https:\/\/coincrafty.com\/wp-content\/uploads\/2022\/01\/coincrafty.png","width":200,"height":40,"caption":"Coin Crafty"},"image":{"@id":"https:\/\/coincrafty.com\/#logo"}},{"@type":"WebSite","@id":"https:\/\/coincrafty.com\/#website","url":"https:\/\/coincrafty.com\/","name":"Coincrafty","description":"Trusted Source for Crypto &amp; Blockchain Industry Insights","publisher":{"@id":"https:\/\/coincrafty.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coincrafty.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage","inLanguage":"en-US","url":"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg","contentUrl":"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg","width":1920,"height":1080,"caption":"Legal Tender And Bitcoin Adoption: Understanding The Connection"},{"@type":"WebPage","@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage","url":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/","name":"Legal Tender And Bitcoin Adoption: Understanding The Connection","isPartOf":{"@id":"https:\/\/coincrafty.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage"},"datePublished":"2023-10-03T13:28:19+00:00","dateModified":"2023-10-03T13:28:56+00:00","description":"Legal tender refers to the official currency recognized by a government as valid for transactions and settling debts. \u00a0","breadcrumb":{"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coincrafty.com\/"},{"@type":"ListItem","position":2,"name":"Legal Tender And Bitcoin Adoption: Understanding The Connection"}]},{"@type":["Article","NewsArticle"],"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#article","isPartOf":{"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage"},"author":{"@id":"https:\/\/coincrafty.com\/#\/schema\/person\/5bea0849396549ae17f0b1a52a91188c"},"headline":"Legal Tender And Bitcoin Adoption: Understanding The Connection","datePublished":"2023-10-03T13:28:19+00:00","dateModified":"2023-10-03T13:28:56+00:00","mainEntityOfPage":{"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#webpage"},"wordCount":706,"commentCount":0,"publisher":{"@id":"https:\/\/coincrafty.com\/#organization"},"image":{"@id":"https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#primaryimage"},"thumbnailUrl":"https:\/\/coincrafty.com\/wp-content\/uploads\/2023\/10\/Legal-Tender-and-Bitcoin-Adoption-Understanding-the-Connection.jpg","keywords":["Bitcoin","Bitcoin Adoption","Bitcoin As A Legal Tender","Legal Tender"],"articleSection":["Bitcoin","blog"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/coincrafty.com\/legal-tender-and-bitcoin-adoption-understanding-the-connection\/#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/coincrafty.com\/#organization"}},{"@type":"Person","@id":"https:\/\/coincrafty.com\/#\/schema\/person\/5bea0849396549ae17f0b1a52a91188c","name":"Radhe","image":{"@type":"ImageObject","@id":"https:\/\/coincrafty.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/2adbeeba835bcf42d1471f61f2052f0a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2adbeeba835bcf42d1471f61f2052f0a?s=96&d=mm&r=g","caption":"Radhe"},"description":"Wow! I can't believe we finally got to meet in person. You probably remember me from class or an event, and that's why this profile is so interesting - it traces my journey from student-athlete at the University of California Davis into a successful entrepreneur with multiple ventures under her belt by age 25","sameAs":["https:\/\/coincrafty.com"],"url":"https:\/\/coincrafty.com\/author\/radhe\/"}]}},"_links":{"self":[{"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/posts\/16145"}],"collection":[{"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/comments?post=16145"}],"version-history":[{"count":1,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/posts\/16145\/revisions"}],"predecessor-version":[{"id":16149,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/posts\/16145\/revisions\/16149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/media\/16146"}],"wp:attachment":[{"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/media?parent=16145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/categories?post=16145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coincrafty.com\/wp-json\/wp\/v2\/tags?post=16145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}