Putin allowed cryptocurrency to be used as a means of saving
However, it is too early to use them as payment for energy carriers, the president added

14.10.2021 - 07:30
360
1 min
0
.
What's new? Russian President Vladimir Putin has not ruled out that cryptocurrency may become a means of saving in the future. However, he said that it is too early to use digital assets in energy transactions. The Russian leader stated this in an interview with CNBC, published on the Kremlin’s website.
“It is fine for transferring funds from one place to another, but I think it would be premature to use it in trading, especially when dealing with energy resources.” he said.
Press release on the Kremlin's website
How did Putin justify his position? According to the head of Russia, it is too early to talk about contracts for oil or other energy sources in cryptocurrency because of its volatility. Virtual coins are not yet secured, added Putin.
The President added that in order to “mine” crypto, “a lot of energy” is needed, and for its production “it is necessary to use traditional sources of energy, primarily hydrocarbons.”
Useful material?
Crypto regulations
GENIUS aims to regulate dollar-pegged payment stablecoins
Jun 18, 2025
Crypto regulations
Under the new law, no cryptocurrency reserve can be created at the state level
Jun 11, 2025
Mining
This is the 300th block mined within this pool
Jun 5, 2025
Incidents
The marketplace started operating in 2022 and allowed trading in stolen personal data
Jun 5, 2025
Incidents
Hackers laundered assets using Tornado Cash, Thorchain, and Wasabi mixers
Jun 2, 2025
Market
After June 30, fines and prison sentences will be imposed for violating the rules
Jun 2, 2025