Bank

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/putin-supports-bitcoin-and-digital-assets-in-recent-announcement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Putin Supports Bitcoin and Digital Assets in Recent Announcement</a> 
Russian President Vladimir Putin expressed support for Bitcoin and digital assets on Wednesday. He stated that Bitcoin cannot be banned and that these assets will continue to develop. This announcement follows his signing of significant legislation recognizing Bitcoin and <a href="https://en.coin-turk.com/bitcoin-price-drops-due-to-us-stock-market-losses/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> as property.
<h2 id="development-of-bitcoin-and-digital-assets">Development of Bitcoin and Digital Assets</h2>
Speaking at the Investment Forum held in Moscow, Putin shared his confidence in the future of Bitcoin and digital assets.
<blockquote>
 Vladimir Putin: “Bitcoin and Digital Assets will continue to develop.”
</blockquote>
Last week, Putin signed an important law on <a href="https://en.coin-turk.com/blackrock-expands-its-presence-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> taxation. This law officially recognizes digital assets as property. Furthermore, mining and selling cryptocurrencies will be exempt from value-added tax.
<h2 id="economic-goals-and-inflation-control">Economic Goals and Inflation Control</h2>
Putin called for coordinated action between the government and the central bank to control high inflation. Central Bank Governor Elvira Nabiullina indicated that inflation will decrease by 2025, reaching the bank’s target rate of 4% in 2026.
<blockquote>
 Elvira Nabiullina: “Annual inflation continues at approximately 9%.”
</blockquote>
Russia has leveraged Bitcoin to circumvent Western sanctions during the Ukraine war. During last month’s BRICS summit, member states discussed the use of cryptocurrencies for cross-border payments.
The legal status of cryptocurrencies in Russia and government support may influence <a href="https://en.coin-turk.com/coinshares-reports-weekly-crypto-fund-flows/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> markets. Regulatory frameworks and economic policies will continue to shape the adoption and utilization of digital assets.
The post <a href="https://en.coin-turk.com/putin-supports-bitcoin-and-digital-assets-in-recent-announcement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Putin Supports Bitcoin and Digital Assets in Recent Announcement</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Putin Supports Bitcoin and Digital Assets in Recent Announcement

Table of Contents

COINTURK NEWS

Other articles published on Dec 4, 2024

Binance Futures Launches AERO and KAIA USDT Perpetual Contracts with Up to 75x Leverage

Golden cross confirmed on Dogecoin charts as DTX Exchange rumored to list on Binance

Ambrus Boosts Sui Game Developers with Ludus

Coinbase Declares War; Bans Firms Hiring Anti-Crypto Lawyers

BTFD Coin Setting the Stage for Big Gains, Dogwifhat’s Surge, and Turbo’s AI Innovation — Best Me...

Singapore Gulf Bank Plans $50M Fundraising for Stablecoin Payments Acquisition

Join our free newsletter for daily crypto updates!