No. Cryptocurrencies are decentralized. Reserva has a central authority, the Reserva Central Bank.
Cryptocurrencies, while having some value as a speculative asset, aren't very good for day to day purchases. The best known cryptocurrency network, Bitcoin, can only process around 5 transactions per second in the present day. Obviously, that isn't fast enough.
There are lots of really smart people trying to solve this problem. However, until someone solves it, a centralized transaction processing system is the only way to keep up with the amount of transactions created by the modern economy.
Late 2022 / 2023.
Virtual currencies are legal in the United States.
The European Union is currently writing virtual currency legislation. It seems clear that they don't plan on banning crypto / virtual currencies, but will probably add many requirements for consumer protections.