Why crypto is not a legal tender? “Crypto will never be a legal tender. Legal tender means by law it is accepted in settlement of debts. India will not be making any crypto asset as a legal tender. Only ‘Digital Rupee’ of the Reserve Bank will be a legal tender in India,” Somanathan said.
Does cryptocurrency have legal tender? While you can pay for some goods and services using cryptocurrency in the US, cryptocurrency has been accepted as legal tender.
Is crypto legal tender in the us? The current statute titled “Legal Tender” (31 U.S.C. Section 5103) says, United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.
Which country has crypto as legal tender? The Central African Republic has become the second country in the world to adopt bitcoin as official currency, after El Salvador took the same step last year.