Russian President Vladimir Putin believes that cryptocurrencies can be used to transfer money and as a method of payment, although it is still too early to do business, including in the field of oil transactions. Nothing has arrived.
Putin in an interview with CNBC after the general meeting of the Russian Energy Week Assembly on the official website of the Kremlin published, Talked about the possible uses of cryptocurrencies. He believes that digital currencies can be used as a financial unit, but they are very unstable.
Explaining that things are evolving, Putin added that the Russian government is closely monitoring the cryptocurrency market, noting that the digital currency market could become an asset to store, although fluctuations in the market are still fluctuating. It becomes.
When asked by an interview with the Russian president about Tesla CEO Ilan Musk’s approach to holding cryptocurrencies, whether he considered such an approach worthless, Putin said no, explaining that digital currencies could be used to transfer money and make transactions. But he pointed out that cryptocurrencies are still too early for commercial transactions, including for use in oil transactions.
Putin says it is too early to talk about the use of cryptocurrencies for oil deals, but noted that in the future cryptocurrencies will become a means of storage.
During the interview, the Russian president also claimed that the US dollar was weakening its position as an international reserve asset. He added that Russia is not interested in a complete cut in dollar payments and is satisfied with dollar payments for energy resources in dollars.
The news comes as Russian authorities have enacted new laws to restrict investment in digital currencies.