“It is too early to talk about that for now, because cryptocurrency can of course be a unit of payment, but it is very unstable.. To transfer funds from one place to another, yes, but I think it is still premature to trade, especially to trade in energy resources, “Putin said.
Russia introduced the regulation of cryptocurrencies this year and has made the payment of goods and services in cryptocurrencies illegal in the country, although it is legal to invest in them.
“It has a place to exist and can be used as a means of payment, of course, but the trade in oil, let’s say, or other raw materials and energy sources (…) it seems to me that it is still a bit early to talk. of this, “Putin said.
Putin went on to say that “everything evolves” and “has a right to exist,” adding that the Russian government is closely monitoring the cryptocurrency market. It also did not exclude the possibility that cryptocurrencies will at some point become a “means of accumulation.” “We see how this market fluctuates. Today is a little earlyPutin added.
The president said that cryptocurrencies “they are not yet backed by anything. “ When asked whether he considers Tesla CEO Elon Musk’s crypto holdings to be worthless, Putin said no, explaining that he only questioned cryptocurrencies as a unit of account in the context of energy trading.
During the interview, the Russian president also claimed that the US dollar “undermines its position” as an international reserve asset. “We are not interested in cutting dollar payments completely, and so far we are satisfied with payments for energy resources in dollars, mainly for oil.”He added.
The news comes as Russian authorities consider a new law to limit investments in cryptocurrencies by unaccredited investors. Earlier, it was reported that the Russian central bank planned to slow down transactions to crypto exchanges to protect retail investors from “emotional” purchases of crypto.
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