I'm not surprised by what's happening because that's where the crypto industry or bitcoin is going in the whole world, to be honest. This kind of implementation by countries today shows that they know that the fall of Bitcoin cannot be stopped in the future and that the whole world will actually use it.

Whatever their reason is, for sure they are probably just promoting who has the most Bitcoin or other crypto in this industry. This is just my opinion.

It really makes a ton of sense to make crypto as legit as it gets for any nation and governments. I get that some people might have some questions about it, but that doesn't mean that each nation will approach it the same way, it will be different situations without a doubt. Not every nation has the same size neither, that changes things, both economically and population as well.

El Salvador made it legal for example, and that was easy because they are a small nation with small economy, they couldn't invest even a billion dollars, there are people who could spend that without a care, PEOPLE, and this is a nation we are talking about. So you can't expect USA to get there quickly, it may take decades before bitcoin would be possibly legal tender there, probably never. Hence, it is going to be different for China as well.

I wouldn't call it so fast, we are about 12years in the making and he got just a handful of countries amongst the nations of the world looking forward to an adoption. That ain't fast, that's slow progress and slow progress isn't any bad progress. As a matter of fact, it creates room to strip away any impurities in the system as it grows.

My concerns here is, how are we going to incorporate cryptos into local banking?
Let's not forget that the banks operate a centralized scheme, bitcoin is decentralized and bitcoin is supposed to help users attain some financial freedom so, where do the banks really come in aside from swapping cryptos for fiat.

This is certain, but the question is when it will happen. Currently, we still only see small countries accepting and using bitcoin, but no major countries have come forward to support bitcoin yet. So I think it will be a while before we see global adoption. But what is happening now shows that bitcoin is the future and people will need it in the future.

I believe Singapore as well is having some thoughts of being a hub in Asia and if I'm not mistaken, they also wanted to be a legal tender just like El Salvador did but as of now, they are still taking their time to observe and study further about it because even if we say that El Salvador may have some improvements since they became a legal tender, we all know that it was not an easy step especially that they were the first ones to do it without any experience.