Vladimir Putin backs digital currencies and urges using Bitcoin to reduce Russia's dependence on sanctions and the dollar.
Putin’s crypto stance has changed- now considers it as a tool to reduce costs and improve financial security.
In a notable shift, Russian President Vladimir Putin has acknowledged the ongoing rise of digital currencies likeSpeaking at the Moscow Investment Forum on 4th December,“Who can ban Bitcoin? Nobody. And, who can prohibit the use of other electronic means of payment? Nobody. Because they are new technologies.”“And no matter what happens to the dollar, these tools will develop one way or the other because everyone will strive to reduce costs and increase reliability.
For context, this legislation exempts activities like crypto mining and sales from value-added tax , signaling a push for clearer regulatory guidelines to integrate digital currencies into Russia’s economy.
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