Countries cannot have their own cryptocurrencies according to Putin
- Russian President Vladimir Putin recently negated the possibility of a Russian national cryptocurrency.
- He said that no country can have its own cryptocurrency as they ought to operate without national borders.
In a recent interview, Russian President Vladimir Putin said that countries cannot have their own cryptocurrencies as they ought to operate beyond national borders. He said this in response when asked if there is a possibility of a Russian National cryptocurrency. Discussing Russia’s legal status on crypto, Wikipedia’s official page reads:
As of November 2016, bitcoins are “not illegal” according to the Federal Tax Service of Russia.[49] Deputy Finance Minister of the Russian Federation Alexei Moiseev said in September 2017 it’s “probably illegal” to accept cryptocurrency payments.[50] However, bitcoin market sites are blocked, and court decisions state that bitcoin is a currency surrogate which is outlawed in the territory of the Russian Federation.
Changpeng Zhao, the CEO of Binance, took twitter to appreciate Putin’s understanding of the subject. Given that the majority of the world leaders are leaning more towards a CBDC than towards a global digital currency, president Putin’s remarks are refreshing and may lead to a new rise in Bitcoin prices.
I have seen very few other leaders with this level of understanding so far.
Most others are still at the level of, how do we issue a version we can control? Misses the point. -@cz_binance
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
