One day cryptocurrencies can serve as an account unit
One day cryptocurrencies can serve as an account unit
The President of the Russian Federation, Vladimir Putin, recently expressed his opinion on cryptocurrencies and admitted that they can serve as a means of payment and cross -border payments.
In a (n Interview with CNBC, which was completely published on the Kremlin-WESISE, he found that Bitcoin and other cryptocurrencies one day could be used as an invoice unit.
crypto still 'prematurely' for oil transactions
While Putin recognizes the potential of cryptocurrencies in the payment sector, the Russian president notes that due to the extremely volatile nature of the asset class, it is definitely "too early" to definitely say that they would replace the US dollar when processing oil transactions. for example.
"It is too early to talk about it, because cryptocurrency can of course be a computing unit, but it is very unstable. To transfer money from one place to another - yes, but the trade, let alone the trade in energy resources, is still early in my opinion," he said.
Putin added that cryptocurrencies are not covered by material assets, and this increases its skepticism to use them for oil transactions.
However, the president stated that the investments in digital assets from top -class people like Elon Musk are not worthless if you consider that he had analyzed their advantages in connection with their use to the processing of oil transactions.
a room for growth
Nonetheless, President Putin is optimistic that there is enough scope for the aspiring investment class to develop up to a point where it is chosen as a worthy alternative to the US dollar for trading in energy resources such as oil.
he said: "But everything develops, everything has its right to exist. We will see how it goes on, maybe one day it can also be a means of accumulation. We see that this market fluctuates. Today it is still a bit early."
Russia not like China
Russia may not be the crypto-cheapest country in the world, but it is still not as strict in relation to the industry as China.
Although the country's authorities are trying to do a New Ordinance, which is aimed at this, The deputy Russian finance minister has made it clear that the state will not be banned Bitcoin .
Selected image with the friendly approval of the DW
.