Vladimir Putin Speaks Out in Favor of Bitcoin
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Earlier this week, Vladimir Putin, the Russian President, finally gave his public opinion on Bitcoin and digital currencies for the first time. The Russian President issued his first remarks in an interview for an educational forum broadcast on domestic TV network Russia 24.
Still, Putin didn’t forget to mention the problems that Bitcoin presents; according to him, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road.
Vladimir Putin commented:
“Bitcoins are backed by nothing… They are not really linked to anything and backed by nothing. However as an accounting unit, they can be used, and their adoption is becoming wider and wider. As some kind of unit in some account, probably, it’s possible. We do not reject anything, but there are serious, really fundamental issues related to its wider usage.”
Putin stated that the Bank of Russia has so far chosen to take a reasonable position on the technology by exploring, its applications. While the Putin didn’t mention anything concrete about legislation in Russia, it’s definitely a good sign that the Russian government doesn’t want to prohibit something before getting a having a more intimate approach.
In a country that has long had one of the most reactionary stances regarding digital currency, The latest Vladimir Putin comments regarding cryptocurrency will most certainly lead to a new era of prosperity for both the local Bitcoin community as well as for digital currency-related Companies and entrepreneurs.
Do you think that this will have a positive impact on the country’s Digital Currency Industry? Let us know in the comment section below!