Legal tender is a term that originates from the legal framework that governs currency in a specific jurisdiction. In most countries, the central bank issues official legal tender, usually in the form of banknotes and coins. The characteristics of legal tender vary by country but fundamentally, it means that creditors are obliged to accept it as a means of payment to settle debts, thus providing a common medium of exchange. In the context of crypto and web3, while cryptocurrencies may not yet be recognized as legal tender in many jurisdictions, the concept of legal tender is often discussed concerning the adoption of digital currencies.