Timeline: Putin Adds to Bitcoin's Rocky History in Russia

Following Vladimir Putin's first remarks on digital currencies, check out our refresher on the tumultuous history of Russia and bitcoin.

AccessTimeIconJul 15, 2015 at 5:01 p.m. UTC
Updated Sep 11, 2021 at 11:46 a.m. UTC

Russian President Vladimir Putin issued his first remarks on digital currencies yesterday, telling the nation that while the technology faces challenges to adoption, it couldn't be dismissed.

, broadcast during an educational segment on TV channel Russia 24, conveyed a lukewarm response from the leader. While praising the Bank of Russia's advocacy against an outright ban on digital currencies, he also outlined a number of issues, including the fact bitcoins are "backed by nothing".

The comments, which one startup took as the "biggest sign of bitcoin legality" in Russia, follow a steady stream of statements made by government officials since the country's lawmakers first began discussing the issue last January.

The conversation is likely to escalate further ahead of the formal decision on a draft bill that would ban the use of digital currencies is still pending in the national legislature.

How did we get here? Check out our interactive timeline below for a refresher on the tumultuous history of Russia and bitcoin:

For more information on bitcoin regulation worldwide, read CoinDesk Research's latest report.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
‘I Don't Follow Trends’: Multicoin’s Kyle Samani on How to Make It in Crypto

The Multicoin Capital founder says to zig when everyone zags, during CoinDesk’s “Future of Work Week.”

CoinDesk - Unknown
2
CoinDesk - Unknown
Meet ‘Frequency,’ Polkadot’s New Decentralized Social Media Parachain

The team behind Project Liberty’s Decentralized Social Network Protocol unveiled the newly named parachain at Polkadot Decoded.

CoinDesk - Unknown
3
CoinDesk - Unknown
DeFi Shouldn't Be Regulated, Crypto Advocates Tell UK Regulator

The advice comes from those who participated in a forum the Financial Conduct Authority held to hear from the digital assets industry.

CoinDesk - Unknown
4
CoinDesk - Unknown
Market Wrap: Bear Market Guides in Vogue as Bitcoin Drops for Fourth Straight Day

BTC was sliding toward $20,000 on Wednesday, as the Bankless newsletter offers mental health tips for surviving a crypto winter.

CoinDesk - Unknown