Putin calls for blockchainbased international payment system

The Russian President criticized Western’s sanctions and urged for a system “independent of external interference”. Russian President Vladimir Putin criticized monopoly in global financial payment systems and called for an independent and blockchain-based settlement network on Nov 24. Putin also noted that global payments and nations are at risk due to tense relations between Russia and the West following Ukraine’s invasion, labeling sanctions imposed by countries as “illegitimate restrictions”. Another recent development, a bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 legalizing cryptocurrency mining and the sale of the cryptocurrency mined , laying down a legal framework for a national exchange.