Recently, the Bank of Russia warned investors the crypto market is “extremely volatile,” and said digital currencies are not permissible as a form of domestic payment. Russia has been looking for alternatives to the U.S. dollar after it was hit with sanctions as a result of the annexation of Crimea.
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Putin: Cryptocurrency 'Has the Right to Exist'
Russian President Vladimir Putin said he believes cryptocurrency has a role in the payments space, but was cooler on the idea of it being used to trade commodities like oil. So reports Bloomberg.
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