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

According to Jiemian News, Russian President Putin stated at the "Russia is Calling!" investment forum that the development of new payment tools is progressing naturally, and this is an inevitable process.

"For example, Bitcoin, who can prohibit it? No one. Who can prohibit the use of other electronic payment tools? No one, because these are new technologies. No matter what happens, no matter what happens to the dollar, these tools will develop in some way, because everyone will strive to reduce costs and improve reliability," Putin said.

"If the dollar's usage rate continues to decline globally, that will certainly undermine the foundation of its economic power. 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 U.S. government is undermining the dollar's role as a global reserve currency, "using it for political purposes," forcing many countries to turn to alternative assets, including cryptocurrencies.