To date, El Salvador is the only country to have legalized bitcoin as a form of tender, although Switzerland could make it a “de facto” legal tender, as well. Tonga and Mexico are also exploring cryptocurrency adoption.<\/p>\n
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Some have downplayed El Salvador’s cryptocurrency initiative as a failure. However, El Salvador’s Minister of Tourism stated in February that tourism has increased by over 30% since the country legalized bitcoin. Some of that can certainly be attributed to the relaxation of COVID-19 restrictions, but not all.<\/p>\n<\/div>\n
Now, after a year, only around 14% of consumer activity centers on the use of bitcoin in El Salvador. However, the anti-crypto pundits who look at that as a negative miss the bigger picture.<\/p>\n
Approximately 14% penetration after just a year is significant. Even in more developed countries, adopting new ways to do things is difficult. It took over 15 years for the US to realize that email served a purpose. Even the telephone was once considered too inadequate to be “seriously considered as a means of communication,” according to Western Union in 1876.<\/p>\n
More important is the adoption of the US dollar. It took over 100 years for the dollar to gain respect around the world. In some countries, for years, people used it as wallpaper.<\/p>\n","protected":false},"excerpt":{"rendered":"
An effort is underway in Malaysia to possibly allow bitcoin and other cryptocurrencies to take their place alongside fiat as legal tender. If the initiative survives, it could be a great addition to the country’s small casino market. It’s a long shot and has a long way to go to find approval, but an initiative […]<\/p>\n","protected":false},"author":64,"featured_media":206205,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,24066],"tags":[],"acf":[],"yoast_head":"\n
Malaysian Casinos Could Go Crypto as Government Ponders Legalized Bitcoin - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n