Recently, the Bank of Russia warned investors the crypto market is “extremely volatile,” and said digital currencies are not permissible as a form of domestic payment. Russia has been looking for alternatives to the U.S. dollar after it was hit with sanctions as a result of the annexation of Crimea.
Estimated reading time: 0 minutes, 27 seconds
Putin: Cryptocurrency 'Has the Right to Exist'
Russian President Vladimir Putin said he believes cryptocurrency has a role in the payments space, but was cooler on the idea of it being used to trade commodities like oil. So reports Bloomberg.
Most Read
-
-
Apr 27 2019
-
Written by FinTech News Brief Staff
The Securities and Exchange Commission announced the concept of digital…
-
-
-
Jan 09 2019
-
Written by FinTech News Brief Staff
Ripple CEO Brad Garlinghouse said cryptocurrency and blockchain stand to…
-
-
-
Sep 21 2018
-
Written by Jacob Roberts
Online software vendor Kashoo is forming focus group to react…
-
-
-
Sep 03 2020
-
Written by FinTech News Brief Staff
The IRS issued new guidance indicating cryptocurrency earned from crowdsourcing-based…
-