Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of...
Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value one day, too. U.S. Cutting the Branch It’s Sitting on, Putin Says U.S. dollar-denominated settlements are declining and countries are scaling down their dollar reserves, Russian President Vladimir Putin said in an interview with....
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Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government Poised to Greenlight International Transactions in Cryptocurrency Russia may authorize cross-border crypto settlements with the law “On Digital Currency” which was presented by the Ministry of Finance in February of this year and has....
The Russian president has not excluded the possibility that, at some point, crypto will become a “means of accumulation.” Russian President Vladimir Putin believes that it's “still premature” to use cryptocurrencies for settling trades of energy resources like oil.The Russian president discussed potential use cases of cryptocurrencies in a Thursday CNBC interview following a plenary session of the Russian Energy Week forum.According to a full interview text published on the Kremlin’s official website, Putin said that private cryptocurrencies “can act as a unit of account” but they are....
Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year. Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade.According to a report published in Reuters, Russia is reportedly planning to use the digital rouble for mutual settlements with China by next year. The digital rouble is currently being tested for settling with the banks and is expected to be completed by early next....
Russian President Vladimir Putin has again spoken about cryptocurrencies, noting the “high risks” associated with the virtual assets. However, the Russian leader has also acknowledged that digital currencies may have a future and it’s necessary to follow their development. Russia’s Putin Still Cautious About Crypto Russian President Vladimir Putin has made another comment regarding cryptocurrencies. Speaking at the VTB Capital Investment Forum “Russia Calling!” 2021, the head of state noted that crypto assets still carry a lot of serious risks.....
This announcement comes at a time during which a lot of exchanges are actively exploring blockchain technology. Bringing Bitcoin technology to the masses seems to be the primary objective for a lot of companies. uTrade, an Indian startup, will use blockchain technology for stock trade settlements. Instantaneous clearing and settlement of stock exchange trades is a significant benefit of blockchain technology in the world of finance. The blockchain seems to quickly become a favorite tool among Indian startups. Albeit uTrade is specialized in selling trading platforms, algorithms, and data....