October 19, 2021

Vladimir Putin: in the future, cryptocurrencies can become a store of value

Vladimir Putin: in the future, cryptocurrencies can become a store of value

Vladimir Putin recognized the prospects and opportunities for cryptocurrency, but in the long term.

In a conversation with a journalist CNBC RF President expressed his opinion aboutthe possibility of the emergence of raw state contracts in the cryptocurrency. In his opinion, at the moment it is too early to talk about settlements in digital assets, since they are too volatile and are not backed by anything.

Cryptocurrency can be used toto transfer funds from one place to another, but to trade, let alone trade in energy resources, in my opinion, is still premature. The cryptocurrency is not backed by anything yet. It has a place in existence, and as a means of calculation can be used. But trading in oil, other primary materials and energy sources is still, it seems to me, too early to talk about this.

At the end of summer, the Russian Federation adopted a law "On digital financial assets", which will legalize cryptocurrencies from next year.

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