Bitcoin is Unstoppable: Putin Declares Support for Digital Assets

Ban Bitcoin? Nobody can: Russia’s Recognition of Crypto

Putin on Bitcoin: The Assets will continue to Develop

Russian President Vladimir Putin has backed Bitcoin, saying that Bitcoin is unstoppable and that Crypto is very-well recognized by Russia.

Putin’s Take on Bitcoin

This Wednesday, Vladimir Putin expressed the country’s support for Bitcoin as well as other digital assets. He said, these assets will continue to develop. This move comes soon after the Russian President signed the landmark law to recognize Bitcoin and other crypto assets as properties.

December 4, Putin gave a speech at the Investment Forum in the capital city Moscow. Here, he made such statements, pushing for Bitcoin and digital assets development.

The Race for Building a Strategic Bitcoin Reserve

The US’s newly elected President Donald Trump, who’s about to start with his administration in the country, has plans to push for pro-Bitcoin and crypto policies. He also plans to build a strategic Bitcoin reserve. Now, President Putin seems to be desiring to be a step ahead in doing the same, though he understands they need to act fast.  

Russia’s Landmark Crypto Taxation Law

Signed last week, the landmark crypto taxation law recognizes digital assets as properties. The law has made several notable recognitions. Mining and sales of digital currencies has been kept free of value-added tax (VAT). In fact, services such as those related to transactions within the electronic payment system (EPR), including crypto, are not to incur any tax liabilities.

Russia is also known to have leveraged Bitcoin during the Ukraine war for the purpose of evading Western sanctions. Ta the last month’s BRICS summit, the member nations also discussed on initiating cross border payments using crypto.

Putin Urges To Curb High Inflation

“It is also necessary to curb inflation, which is currently at a fairly high level,” have been Putin’s words to an international investment conference in Moscow, organized by the country’s second-largest lender VTB. The Russian President is calling for the government as well as central bank for coordination on curbing high inflation. As per Central Bank’s Governor Elvira Nabiullina, annual inflation has continued to be high at about 9%. She further added that this should fall the next year, and even reach 4%, the central bank’s target rate, in 2026.

Meanwhile Bitcoin is doing fairly well in the market, the BTC price and the trading volume both jumping high in the past 24 hours.