Russian President Vladimir Putin expressed his opinion on the potential for settlements in cryptocurrency at the Russian Energy Week international forum in Moscow.
In an interview with CNBC, Vladimir Putin said that “cryptocurrencies have a right to exist and can be used for settlements,” but that time has not yet come for Russia.
“In order to transfer funds from one place to another, yes, but to trade, especially to trade in energy resources, in my opinion, is still premature,” Putin said.
The head of state explained that cryptocurrencies are not backed by anything and are unstable. Therefore, it is premature to consider them as a settlement instrument when trading in oil, virgin materials or energy sources.
At the same time, he once again noted that cryptocurrencies are developing and “have the right to exist.”
Earlier, Deputy Finance Minister of Russia Alexei Moiseev voiced the position of the country’s government and said that in the foreseeable future in Russia cryptocurrencies will not be accepted as a means of payment, but it is not planned to prohibit the purchase and ownership of such assets.
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