$ 20,170.00
$ 1,136.67
$ 0.999596
$ 0.457276
$ 0.323866
$ 0.999747

Vladimir Putin Confirms No Crypto Ban, Believes They Can Be Used as Settlement Unit

Vladimir Putin Confirms No Crypto Ban, Believes They Can Be Used as Settlement Unit

President Putin was part of the Russian Energy Week conference that took place in Moscow. Talking about cryptocurrencies, he expressed his doubts, emphasizing that crypto coins are still in the nascent stages to be of use in energy transactions. 

However, the president did not completely deny them, admitting that there exists the possibility of crypto being used as a settlement unit.

CNBC organized a panel for the Russian Energy Week, where apart from the energy industry, cryptocurrencies were discussed as well.

The Russian President was interviewed from CNBC where he had the chance to give his viewpoint on the crypto sector, mainly focusing on the cryptocurrencies used for oil, energy, and other transactions that are material related. He still does not firmly believe in the crypto coins as they are quite volatile and unstable to be used for important cases.

Nevertheless, he was positive about it, stating that ‘everything has a right to exist.’ Cryptocurrencies might be important in the future and we will pay attention to it, adds Putin.

Gary Gensler, chairman of the U.S Securities and Exchange Commission, echoed similar opinions as he doesn’t see long-term viability for cryptocurrencies.

Anyway, SEC is working towards market regulation as they want to make sure that cryptocurrencies are in line with security laws standards.

So far, Russia has been indecisive about crypto. It was first thought that the country would ban it, as reported in 2020, yet new reports show that instead of a ban, regulations are to take place.

On one hand, the state officials announced that Bitcoin will not be accepted as a legal tender, on the other, they keep improving tools that will fight crypto-related criminal activities.

Russia Will Not Ban Crypto

Alexey Moiseev, the Deputy Finance Minister of Russia, confirms that no crypto crackdown will take place and they don’t plan to follow China’s crypto ban.

Cryptocurrencies are famous in Russia therefore this is good news for everyone involved in this industry. Moreover, the central bank of Russia also confirmed a pilot testing for a digital ruble.

China’s latest crackdown happened in September of this year, attracting a lot of attention. While it did hit the market, things are back to normal now. There were even investors who turned this into a joke, saying that the Chinese government banning something is old news.

Other countries are reluctant to join China and instead are working on crypto regulations so they can also make use of the advantages.

India is among the countries with a friendly approach to crypto, as the young people are enthusiastic about crypto investments.

Also Read: DeFi can Gain Some Advantages from the China Crackdown


Also read:

Related News

Bitcoin’s Lightning Network Now Available for Argentina From OpenNode Partnership With Lemon Cash

OpenNode, a supplier for Bitcoin payments, has teamed with Lemon Cash, a well-known Latin American bitcoin wallet service. The wallet’s cooperation with OpenNode allows over 1 million Lemon Cash users to now access Bitcoin’s Lightning Network. “This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments… We’re proud to support Lemon’s mission and its desire to scale and benefit

Read More »
LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »
The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »

My Coins

$ 20,170.002.8%
$ 1,136.673.36%
$ 0.4572761.57%
$ 0.9995960.05%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: