Russian President Vladimir Putin is pushing for the development of Bitcoin and digital assets. In the US, Donald Trump is planning to create a strategic BTC reserve. Russia, on the other hand, is moving fast on Bitcoin and crypto adoption. Putin also called on the government and the central bank to coordinate to curb high inflation.
Russian President Putin: No one can ban Bitcoin (BTC)!
Russian President Vladimir Putin made critical statements at the Investment Forum held in Moscow on December 4. “Bitcoin and Digital Assets will continue to develop,” Putin said. Meanwhile, as you have been following from Kriptokoin.com, Donald Trump plans to push for Bitcoin and pro-crypto policies, including the creation of a strategic Bitcoin reserve. Therefore, President Putin probably wants to get ahead of the US. He also realizes that they need to move fast to create a strategic Bitcoin reserve.
Last week, Russian President Putin signed a landmark crypto taxation law that officially recognizes digital assets as property. Furthermore, digital currency mining and sales will not be subject to value-added tax (VAT). Moreover, services related to transactions within the electronic payment system (EPR) will not give rise to tax liabilities. This includes crypto. Russia used Bitcoin to evade Western sanctions during the Ukraine war. At the BRICS summit last month, member countries discussed the use of crypto for cross-border payments.
Putin calls for curbing high inflation
President Vladimir Putin also called on the government and the central bank to coordinate to contain high inflation, Reuters reported. Central Bank Governor Elvira Nabiullina said that annual inflation remains high at around 9%. Nabiullina stated that inflation will fall in 2025. It will also reach the central bank’s target rate of 4% in 2026, she added.
“It is also necessary to curb inflation, which is now at a fairly high level,” Putin said at an international investment conference in Moscow organized by VTB, Russia’s second largest lender. Meanwhile, the Bitcoin price has risen by 0.5% in the last 24 hours. BTC was trading at $95,837 at the time of writing. The 24-hour low and high were $93,629 and $97,026, respectively. Also, trading volume increased slightly by 2% in the last 24 hours.
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