Russia Not Ready for Bitcoin as Legal Tender, Putin’s Spokesman Peskov Says

Russia Not Ready for Bitcoin as Legal Tender, Putin’s Spokesman Peskov Says


Russia has no reason to recognize bitcoin, President Putin’s press secretary has noted after El Salvador became the first country to adopt the digital coin as legal tender. In a statement to the press, Dmitry Peskov revealed he is convinced that such a move would not bring any benefits to the Russian Federation.

Kremlin Not Open to Bitcoin Adoption in Russia

The government in Moscow sees no reason to recognize bitcoin at this point, according to Dmitry Peskov, press secretary of Russian President Vladimir Putin. Describing it as a quasi-currency, the Kremlin representative insisted that equating bitcoin to official monetary instruments wouldn’t do anything but harm Russia’s financial and economic system. Speaking to reporters, Peskov emphasized:

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Clearly, Russia is not ready for such steps.

The statement, quoted by RIA Novosti news agency on Tuesday, came as the Republic of El Salvador became the world’s first country to recognize bitcoin (BTC) as legal tender for payments in its jurisdiction.

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