Putin: The development of new payment tools is an inevitable evolution, and no one can ban Bitcoin.

According to a report by Jiemian News, Russian President Vladimir Putin stated at the "Russia is Calling!" investment forum that the development of new payment tools is proceeding naturally and is an inevitable process. "For example, Bitcoin—who can ban it? Nobody. Who can ban the use of other electronic payment tools? Nobody, because these are all 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 continues to decline globally, it will certainly 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?" He stated that the current US 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.