Russian president allowed the use of cryptocurrencies as a means of payment

The Russian president allowed the use of cryptocurrencies as a means of paymenn response to a question from Gamble, who recalled Russian Deputy Prime Minister Alexander Novak's remarks about possible contracts for oil supplies in cryptocurrency, the president replied that it "could be a unit of payment, but for now it is very unstable."


According to Putin, cryptocurrencies are suitable for transferring funds from one place to another, but it is premature to use them in energy trade. "Cryptocurrency is not secured by anything yet. It has a place to exist and as a means of payment can be used, of course, yes, but trade in oil, say, or other primary materials and energy sources - still, I think, it's a little early to talk about it," said the head of state. At the same time, the president did not rule out that cryptocurrency may someday become a means of accumulation.


In response to a journalist's question about how Putin evaluates assets of Ilon Musk, who keeps a part of funds, including corporate ones, in cryptocurrencies, and whether his statements mean that assets of such people are not worth anything, the president answered: "Why, they are worth it. It's just that can it be used as a unit of account when buying and selling oil? That's what I'm talking about. At the same time, he noted that so far the issue of cryptocurrencies requires a huge amount of energy extracted from traditional energy carriers, primarily hydrocarbons.


It is known that most countries of the world are still quite wary of crypto-assets. And if in small countries like El Salvador their circulation is made official, then, for example, in China, cryptocurrencies have recently been banned completely.


"The G7 is working to standardize the process of working with so-called "digital currencies of central banks" - CBDC. Unlike cryptocurrencies like bitcoins, they use similar technology, but all transactions are fully controlled by the state. In this regard, human rights activist Edward Snowden called CBDC a "perversion" of the very idea of crypto-assets and stated that they are specifically designed to deprive users of the "fundamental right of ownership of financial means.


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