Is Vladimir Putin really ready to accept cryptocurrency as a means of payment?

Cryptocurrencies “have the right to exist”

This week was the Russian Energy Week, an international forum held October 13-16 in Moscow. Among the speakers, we obviously found the President of Russia, Vladimir Putin. Following a question from a journalist on the possibility of settling oil contracts in cryptocurrency, the Russian president’s response was somewhat surprising.

Indeed, Vladimir Putin has surprisingly expressed his tolerance towards cryptocurrencies. According to him, digital assets and in particular Bitcoin (BTC) “have the right to exist and can be used as a means of payment”.

However, let’s not get too excited too quickly, as this response is still very timid approval. The Russian president very quickly qualified his remarks by explaining that “it was still too premature” to consider cryptocurrencies as a means of payment for trading.

“To transfer funds from one place to another, yes, but to trade in oil, or other commodities and energy sources, it seems too early to talk about it at the moment,” explained Vladimir Poutine.

Since the sanctions imposed on Russia in 2014, Vladimir Putin has never ceased to seek alternatives to payment in dollars for international trade. While China has clearly positioned itself against cryptocurrencies and the United States is currently launching a broad investigation of the sector, it will be interesting to follow the positioning adopted by Russia.

👉 To go further – President Erdogan believes that Turkey is “at war with cryptocurrencies”

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About the Author: Lilian Aliaga


Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.

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