Putin Supports Bitcoin's Future Russia Develops Cryptocurrency Laws and Inflation Control
December 4, 2024 Russian President Vladimir Putin made a resounding statement in support of #bitcoin and other #digital assets, saying that these technologies cannot be banned and will inevitably evolve.
President Putin's remarks followed the recent passage of a new law in Russia that officially recognizes #cryptocurrencies as property, marking an important step in the regulation of digital assets in the country.
Putin's remarks at an investment forum in Moscow were a clear indication that Russia is increasingly embracing cryptocurrencies. Among other things, Putin emphasized that bitcoin will remain a part of global finance. This stance came amid the ongoing debate in the U. S. over bitcoin support policies, especially after former President Donald Trump proposed the creation of a national bitcoin reserve. President Putin's comments may reflect Russia's desire to remain competitive in the global #cryptocurrency space.
Russia recently passed a new taxation law that treats digital assets as property and exempts cryptocurrency mining and related services from VAT. These legislative changes will not only support the growing crypto industry in Russia, but also create a financial foundation for further growth. In addition, Russia is using digital currencies to circumvent Western sanctions imposed after the conflict in Ukraine, and the use of cryptocurrencies in international payments was discussed at the BRICS summit.
Read us at: Compass Investments
