The Russian president, Vladimir Putin, has stated that he accepts crypto currency as a form of payment in future transactions. However, he does not believe that it will be able to replace the dollar in oil trades. As CNBC reports, the Russian government and central bank have come to an agreement about the regulation of cryptocurrency. The draft law is set to be launched on February 18, 2018.Although most governments are afraid that cryptocurrencies will fuel the growth of crime, the Russian government is considering a countrywide initiative to coordinate cryptocurrency transactions. While this may seem premature, the country still has a ways to go until it is ready to be used for official trade between countries. After all, oil is the backbone of Russia's exports and may soon be looking for other alternatives to the dollar. While the US and other super economies are worried about the rise of cryptocurrency, Russian President Vladimir Putin has signaled that the country will support the adoption of digital currencies. While he does not believe that cryptos will help facilitate oil trade between the US and Russia, he has publicly acknowledged their legitimacy and even acknowledged that cryptos could be used for payments. But it is not clear whether Russia will accept cryptos as a means of payment in the future. Many governments are also wary of cryptocurrencies, fearing that they will become a conduit for illegal activity and money laundering. While Putin seems to be on a different page from the super economies, it does appear that he does not see cryptocurrency as a threat to international trade. Despite the threats to Russian oil exports, Russia is a potential alternative to the dollar. In addition to the new sanctions on Iran, the Russian President has said that the country may consider adopting alternative currency as a way to avoid the embargo imposed by the United States. Russian President Vladimir Putin recently announced that he does not oppose the use of cryptocurrency as a means of payment, but said it is premature to ban it because it may lead to crime. But he did acknowledge that he is open to the concept of cryptocurrency. As a result, he has signaled his tolerance for it. In fact, he has said that he would consider implementing the use of cryptocurrencies as an official means of trade with the super economies. Despite the opposition to cryptocurrencies, President Putin is a strong supporter of them. He has stated that they are a legitimate form of payment. This is a major win for a country that exports oil. Moreover, he has made it easier to implement censorship of cryptocurrencies, which has long been prohibited in the U.S., and it is a crucial part of the Russian economy. The world's most powerful super economies, including the United States and Russia, are recognizing the legitimacy of cryptocurrencies in their national currencies. While he doesn't believe that cryptocurrency can facilitate a US-Russia oil trade deal, he does believe that it is an alternative means of payment. Unlike the U.S., Russia has no problem accepting cryptocurrencies as a form of payment. The Russian President is an important www.outlookindia.com/outlook-spotlight/binance-futures-referral-code-create-account-save-maximum-on-future-fees-news-183869 figure in the crypto world, and he is clearly a proponent of digital currencies. While he does not think that cryptos will facilitate a US-Russian oil trade, he has publicly shown his support for crypto assets. As a matter of fact, he has stated that he is open to using cryptocurrency as a means of payment. While it has a long way to go before it can be used in official trading between countries, Putin has signaled his willingness to embrace them. Despite the opposition from the US, he seems to be on the same page as the super powers. While he may not be as open-minded as his peers, he has shown a willingness to use cryptos as a legitimate form of payment.
