CoinMarketCap published this video item, entitled “How Can Bitcoin Become Legal Tender?” – below is their description.
Late last year, El Salvador made Bitcoin legal tender. And in April this year, so did the Central African Republic.
On today’s CoinMarketCap episode, we are exploring why other countries might start using Bitcoin this way, how a Bitcoin Legal tender works and which country might be the next to follow El Salvador’s lead.
00:29 – What is a legal tender?
01:15 – Bitcoin vs Fiat Currencies: What’s the Difference?
02:50 – How Did Bitcoin Become Legal Tender in El Salvador?
05:01 – How Does the Central African Republic Implement Bitcoin?
06:30 – Could Other Countries Follow El Salvador and the Central African Republic?
06:52 – Panama
07:44 – Cuba
09:20 – Ukraine
10:43 – Could Any Large Economy Adopt Bitcoin as Legal Tender?
12:19 – Obstacles to Bitcoin Becoming Legal Tender
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