Putin: The development of new payment tools is evolving naturally; no one can ban Bitcoin.

PANews, December 10—According to Jiemian News, on December 4, Russian President Putin stated at the “Russia Calling!” investment forum that the development of new payment tools is progressing naturally and is an inevitable process. “For example, Bitcoin—who can ban it? No one. Who can ban the use of other electronic payment tools? No one, because these are new technologies. Whatever happens, whatever happens to the US dollar, these tools will develop in some way because everyone will strive to reduce costs and improve reliability,” Putin said.

“If the global use of the US dollar continues to decline, of course it will undermine the foundation of its economic strength. This is very clear,” Putin said. “A reasonable question is: if foreign exchange reserves are so easily lost, why accumulate them at all?” He stated that the current US government is undermining the role of the dollar as a global reserve currency by “using it for political purposes,” forcing many countries to turn to alternative assets, including cryptocurrencies.