Russian President Vladimir Putin signaled tolerance of cryptocurrencies, which are drawing increasing scrutiny from regulators around the world amid fears they can be used for money laundering and criminal activity.
Cryptocurrency “has the right to exist and can be used as a means of payment,” Putin said in an interview with CNBC that was posted on the Kremlin’s website Thursday. Still, he cautioned it was too soon to talk about using digital currencies for trading oil and other commodities that form the bulk of Russia’s exports.
The Bank of Russia has repeatedly warned investors that the crypto market is extremely volatile, and digital currencies are not allowed to be used as a method of payment domestically
Read full interview here