Russian President Vladimir Putin Publicly Addresses Crypto, Says Practically Nothing
Russian President Vladimir Putin issued ambiguous, but mostly negative, commentary on the question of Russian issuing its own cryptocurrency during his annual live question and answer session with the Russian public today, June 7.
Putin answered by first explaining that Russia cannot have its own cryptocurrency, as cryptocurrency “by definition” cannot be owned by a centralized state, since it “goes beyond borders.” Putin then brought up “so-called mining,” noting that Russia does not regulate the practice but “treat[s] it very carefully.”
In regards to cryptocurrency as form of payment, like money, Putin noted that although experts say Japan has partially adopted crypto as payment, “it doesn’t work in other countries,” specifying:
He added that Russia must also look into “how we can use it [cryptocurrency] in order to avoid any restrictions in the field of international financial activity,” perhaps a veiled reference to the potential use of cryptocurrency to avoid Western sanctions currently imposed on the country.
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