Russian President Vladimir Putin criticized monopoly in international monetary cost techniques and referred to as for an unbiased and blockchain-based settlement community on Nov 24, talking on the Worldwide AI Journey Convention in Moscow.
Throughout the occasion organized by Sberbank, the most important Russian financial institution and a serious lender to the federal government, he acknowledged:
“The know-how of digital currencies and blockchains can be utilized to create a brand new system of worldwide settlements that might be rather more handy, completely secure for its customers and, most significantly, won’t depend upon banks or interference by third nations. I’m assured that one thing like this may actually be created and can develop as a result of no person likes the dictate of monopolists, which is harming all events, together with the monopolists themselves.”
Putin additionally famous that international funds and nations are in danger as a result of tense relations between Russia and the West following Ukraine’s invasion, labeling sanctions imposed by nations as “illegitimate restrictions”.
“The prevailing system of worldwide funds is pricey, the system of its correspondent accounts and regulation are managed by a slim membership of states and monetary teams.”, famous the Russian president.
A day earlier than, the native media reported that lawmakers have been in discussions for amendments to the present cryptocurrency laws, laying down a authorized framework for a nationwide change.
One other current improvement, a invoice was launched into the Russian State Duma, the decrease home of parliament, on Nov. 17 legalizing cryptocurrency mining and the sale of the cryptocurrency mined.
As reported by Cointelegraph, chairman of the Duma Monetary Markets Committee Anatoly Aksakov believes the “passage of the regulation will deliver this exercise into the authorized area, and make it attainable to type a regulation enforcement follow on points associated to the issuance and circulation of digital currencies.” At the moment, cryptocurrency can’t be used for settlements in Russia.
