Government legal and enforcement efforts to promote a currency are neither sufficient or necessary for a currency to have value. The value of a currency comes

Government legal and enforcement efforts to promote a currency are neither sufficient or necessary for a currency to have value. The value of a currency comes from its usefulness for transactions. Many ingredients come into play there, but the big one is wide acceptance. Government efforts are a (for good or ill) common coercive and often successful tactic to create the conditions of wide acceptance. But such efforts can fail and any other conditions that create wide acceptance are just as valid.