Russian President says there are no borders for cryptocurrencies

Russian President Vladimir Putin said that there are no borders for cryptocurrencies, and therefore noa country cannot have its own cryptocurrency.

When President Vladimir Putin was asked aboutwhether Russia will soon have its own national cryptocurrency (CBDC), he pointed out that neither Russia nor any other country can have its own cryptocurrency, since digital coins by definition do not recognize borders.

At the moment there are many countries thatworking on the release of their own CBDC, including China and European countries. However, these digital coins do not preclude centralization and can become a tool for mass cash flow tracking.

Currently, the legal status of cryptocurrencies in Russia is not defined, the Central Bank of Russia openly opposes the use of cryptocurrencies for payments.

I have seen very few other leaders with this level of understanding so far.

Most others are still at the level of, how do we issue a version we can control? Misses the point. https://t.co/2477bcNncr

- CZ Binance ??? (@cz_binance) April 29, 2020

“There are very few leaders with this level of understanding. Most others are still at the “how to release and how to control?” Level. They cannot get to the point. ”

The People's Bank of China (PBoC) is now very close torelease of a national digital currency, called DCEP. Development has been going on for at least 5 years, and now the digital yuan is being tested by companies such as McDonald's and Starbucks. China's centralized cryptocurrency is expected to launch in 2020.

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