Putin warns of risks in cryptocurrencies, admits they may have a future – Bitcoin News

Putin warns of risks in cryptocurrencies, admits they may have a future – Bitcoin News


Russian President Vladimir Putin once again talked about cryptocurrencies, pointing out the “high risks” associated with virtual assets. However, the Russian leader also admitted that digital currency may have a future and it is necessary to follow its development.

Russian Putin remains cautious on cryptocurrencies

Russian President Vladimir Putin (Vladimir Putin) made another comment on cryptocurrency. Speaking at the VTB Capital Investment Forum “Russia Calling!” In 2021, the head of state pointed out that there are still many serious risks in encrypted assets. The news portal Life.ru quoted Putin as saying:

As for cryptocurrency, it is banned in some countries. It has no support, high volatility, and high risk. I also think we need to listen to those who talk about high risks.

At the same time, the Russian strongman does not rule out that cryptocurrency may have a future. He further emphasized that it is now necessary to carefully monitor the entire process as it develops.

Cryptocurrency has not yet been fully regulated in the Russian Federation. Although the Digital Financial Assets Law that came into effect in January provides some clear regulations on certain related activities such as virtual currency and its issuance, many aspects such as mining and taxation still need to be regulated by new legislation.

Bank of Russia remains firm be opposed to The legalization of Bitcoin as a means of payment has recently suggested Introduce legal liability for such uses. In September, Putin’s press secretary Dmitry Peskov (Dmitry Peskov) also took a hard line on the matter, making it clear that Russia has no reason and is taking a hard line. Not ready Recognize Bitcoin as legal tender.

Putin’s latest comment on cryptocurrency is not his first comment this year. In an interview with CNBC during the Russian Energy Forum in Moscow last October, he admitted that decentralized digital currencies could one day be used in oil trade settlements, although this also said that it is still too early. He accused the United States of weakening its currency, and pointed out that dollar-denominated settlements are decreasing, and countries are shrinking dollar reserves.

The Kremlin has been hunting down officials holding cryptocurrencies as part of its efforts to combat government corruption. In August, the Presidential Palace issued a decree Putin signed guide Multiple ministries and central banks examine statements submitted by government employees regarding their digital asset holdings.

Tags in this story

Bitcoin, Comment, encryption, Crypto assets, Cryptocurrency, Cryptocurrency, develop, Digital coin, Digital currency, high risk, Kremlin, President, Putin, Regulation, Regulation, risk, Russia, Russian, statement, Virtual assets, Virtual currency, Vladimir Putin

Do you think Vladimir Putin’s position on cryptocurrencies will change in the future? Tell us what you think in the comments section below.

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