A signal of acceptance of the cryptocurrencies was sent by Russian President Vladimir Putin
A signal of not only tolerance but also acceptance of cryptocurrencies was sent by the President of Russia Vladimir Putin in an interview on October 14, 2021.
As he said, digital assets are attracting more and more people but also the regulatory authorities, which are examining whether money laundering is done through them.
However, “cryptocurrencies have a right to exist and can be used as a means of payment.”
However, he warned that it was too early to say whether digital currencies could be used to trade oil and other products that are part of Russian exports.
Russia has been seeking alternatives to the dollar since sanctions were imposed in 2014 following the annexation of Crimea, and Putin has accused the United States of using its currency as a weapon.
Proponents of cryptocurrencies believe that the decentralized money will eventually replace the fiat currencies issued by central banks.
Russia’s central bank has repeatedly warned investors that the cryptocurrency market is highly volatile and that digital assets may not be used as a method of payment.
However, there are no plans for a general ban similar to those in China, Deputy Finance Minister Alexei Moiseev said this week, according to Interfax.
Putin’s “tolerance” for cryptocurrencies is being “announced” as the White House considers launching a broad initiative to review and coordinate the cryptocurrency policy under President Joe Biden’s administration, which could lead to new regulations.
