The post No, Vladimir Putin is NOT pro-crypto appeared on BitcoinEthereumNews.com.

Russia’s president Vladimir Putin has changed a lot over the past four years. We’ve seen him build and/or strengthen his allegiances with many entities, but unfortunately, Bitcoin just isn’t one of them. Sure he is desperate for a way to completely detach his economy from America, and yes crypto is the perfect tool for that, but Putin isn’t a fan of things he cannot control. Which is why his focus is more on a central bank digital currency, and not actual decentralized cryptos. Anyone who pays attention should know that the odds of Putin legalizing Bitcoin as a currency is about as low as it could get. Crypto wouldn’t give Putin what he wants What Putin wants more than anything is to not be at the mercy of America and its sanctions and tariffs. But Putin is a politician, so if he breaks himself and the BRICS from the dollar, he wants it to be in a way that pains America the most. And the truth is crypto will not do that. Not only does it not have the economic power, it’s also too new and too volatile for him to rely on. Now Putin has legalized Bitcoin mining and using crypto for international payments. But it isn’t for the Russian government. It’s for the citizens and businesses. The laws will go into effect later this month for cross-border payments and in November for crypto mining. Putin told top officials that now is the time to regulate crypto, due to how important they are becoming in global payments and how they can help reduce reliance on the dollar. But he also made it clear that this is mainly to help ease the effects of sanctions and make international payments easier for Russians. The new law also allows the trading of…

---

Filed under: News - @ September 21, 2024 1:26 pm