View: Bitcoin doesn't have to be considered fiat to succeed

According to AMBCrypto, Caitlin Long, co-founder of the Wyoming Blockchain Alliance, recently stated in a podcast that Bitcoin does not necessarily need to be specifically regarded as a legal currency to succeed. Long states that under the US Constitution, the government has the right to tell everyone which currencies are required to be accepted in their territory. Not long ago, Wyoming also clarified the legal status of digital assets and argued that virtual currencies must be treated the same as currencies. In this regard, Long said that this is not to say that (Bitcoin) is legal tender, but for some purposes, it is legally treated the same as legal tender. Long also commented on the "fear" mentality associated with the rise of Bitcoin and other cryptocurrencies. Despite the recent increase in Bitcoin's popularity, she said that the central bank does not have to worry about cryptocurrencies including stablecoins.