Putin’s U turn on bitcoin and says Bitcoin have rights to exist

Recent statements of the Popular Russian politician indicates that they now have positive stances on the crypto & Blockchain industry.

In the last many years, we have seen only rude statements and indications by the Russian government authorities over the crypto and blockchain industry. And every time they claimed that crypto assets are too volatile to invest and we should n’t consider it for the payment use purpose. 

And also many times they asserted that Crypto can help money laundering activities advancement easily, so it is better to keep the citizens away from crypto.

But as we know, in the present time, the Russian government is taking their steps away from the Dollars, according to reports, So Russian government authorities are looking for better alternatives that can be used for the commodities trade like Electricity & oil contracts based settlements. So there are chances that the Russian government may catch the hand of crypto & blockchain technology.

In the recent interview with CNBC, published on the Kremlin, Mr. Vladimir Vladimirovich Putin shared the previous stances on crypto & Bitcoin like high volatility & premature To invest.

According to Putin Crypto & Bitcoin are risky but on the other hand they can draw a better future by unlocking huge possibilities. 

Further Putin added a statement which indicates that they will approach to bring favourable crypto measures. According to Putin everything evolves, everything has a right to exist. We will see how it turns out” .

Deputy Finance Minister Of Russia on crypto

Before the support of Putin, a similar kind of statement was passed by the Alexei Moisees, Deputy Finance Minister of Russia. Through the statement, the Minister said that they will not follow China’s footsteps to ban crypto fully. They will allow their citizens to buy crypto & hold in wallets but outside the Russian Fed. 

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