Peskov says Russia is not yet ready for Bitcoin as legal tender

President Putin’s spokesperson expressed that Russia has no reason to recognize Bitcoin as a legal tender after El Salvador became the first country to do so. As noted by him in a press conference, Dmitry Peskov feels convinced that accepting Bitcoin as a legal tender would bring no benefits to the Russian Federation.

Peskov ended up describing Bitcoin as quasi-currency and said that equating Bitcoin as a legal monetary instrument would do nothing but only harm the financial and economic system of Russia. As per the country’s current legislation, the national fiat ruble is recognized as the only legal tender in the country.