Russian President Vladimir Putin proposed a new system of international currency. Remittances are necessary to reduce reliance on large banks and third parties who believe in He believes cross-border payments that rely on digital currencies and distributed ledger technology will become “much more convenient.”
Russian head of state calls for blockchain-based international payments
Russian President Vladimir Putin calls for a new system for international payments independent of banks and party sabotage. Russian leaders could be created using digital currency technology and distributed ledgers, local media quoted local media as saying. Lectured at a conference on In his speech, he emphasized that interstate financial flows and payments are now under threat amid strained relations between Russia and the West. }
“Under today’s illegal restrictions, it is well known that settlements are one of the avenues of attack. We know this better than anyone because we have been exposed to it,” the president elaborated.
Vladimir Putin was referring to the sanctions imposed on the Russian Federation for severely limiting its access to global finance and markets following its invasion of neighboring Ukraine. As reported by Prime News Agency, he also noted:
Today, international payment systems are expensive, and correspondent accounts and regulations are limited to small states and financial groups. Managed by the club.
“Based on the technology of digital currencies and distributed ledgers, it is possible to create a new system for international payments, much more convenient, but at the same time completely safe for the participants. and completely independent, Putin also citing cryptocurrency news outlets RBC Crypto and Bits.media explained.
Russia has implemented comprehensive crypto regulation over the past few months. In September, Moscow’s financial authorities began developing a mechanism for international cryptocurrency payments. Recent reports have revealed that Russia and Cuba, both under sanctions, are already discussing the issue.
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