- Russian President Vladimir Putin say in CNBC interview that ‘Crypto has the right to exist’.
- After Chinese Crackdown U.S considering new regulations.
Russian President Vladimir Putin signalled
alert for the cryptocurrencies which are
drawing increasing scrutiny from regulations around the world because these cryptocurrency
can be used for money laundering and criminal activity.
Source : Google
On interview with CNBC which was posted on the kremlin’s website on
Thursday Putin said that “Cryptocurrency has the right to exist and can be used
as a means of payment.” But he cautioned that it was too soon to talk about
using digital currency (Crypto) for trading oil, business ,shopping and other
commodities that form the bulk of Russia’s exports.
Russia has looked for options in contrast to exchanging
dollars since being hit with sanctions in 2014 after the extension of Crimea,
and Putin denounces the U.S. of utilizing its cash as a weapon. Crypto patrons
contend decentralized cash will ultimately supplant fiat monetary standards
gave by national banks.
The Bank of Russia has over and over cautioned financial
backers that the crypto market is very unstable, and advanced monetary
standards are not permitted to be utilized as a strategy for installment
locally. Not with standing, there are no designs for a sweeping boycott like
China's, Deputy Finance Minister Alexei Moiseev said for this week, as per
Interfax.