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Putin May Accept Cryptocurrencies as a Payment In Future Transactions
In a recent interview with CNBC, Russia's president Vladimir Putin acknowledged cryptocurrencies as a unit of account, but that it's still very early.
International
Russian President Vladimir Putin is making the headlines in the crypto world this week after he tentatively acknowledged that cryptocurrencies have value, but that it's still too early to tell given their "unstable" nature.
In the future, they could be accepted as a legitimate form of payment, but it's still early days, cautioned the President.
The news made the rounds early yesterday, Thursday 14 October, after CNBC interviewed Putin, and the Kremlin posted the discussion on its website (in Russian).
Even though crypto fans might start to feel a rush of excitement, thinking the Russian President defended digital currencies, it would be wise for them to hold back as Putin's choice of words on the subject was very cautious.
Putin says it's too early to discuss the topic but doesn't dismiss it
When asked by CNBC whether cryptocurrencies might be used instead of dollars for contracts to supply oil, Putin answered "Cryptocurrency contracts? It's too early to talk about this, because cryptocurrency, of course, can be a unit of account, but it is very unstable."