Vladimir Putin: ‘Cryptocurrency could possibly serve role as settlement unit’

Vladimir Putin offered an undecided take on cryptocurrencies at the Russian Energy Week conference in Moscow. The Russian President said that cryptocurrencies could find use as a settlement unit, but that it was still too early to say if it could be used in energy transactions.

Russian President Vladimir Putin, in an interview with CNBC, said that cryptocurrencies were too early in their lifespan to consider them for niche use cases like energy transactions. He did say there is a possibility that the asset class could serve a role as settlement units. Putin also said that there was no guarantee for cryptocurrencies.

CNBC moderated a panel in Russia for the Russian Energy Week, where Putin mainly spoke of the energy industry, briefly foraying into cryptocurrencies,

The Russian President was referring to cryptocurrencies being used for oil, energy, and raw material-related transactions, for which some projects are working on. His statements did offer a degree of optimism, as he said that “everything has a right to exist.”

Find out more