An adviser to Russian President Vladimir Putin proposed to adopt a digital currency in Crimea to attract foreign investment.
Vladimir Putin is the current president of Russia, who had previously held this position from 2000 to 2008 and had been Prime Minister from 1999 to 2000 and from 2008 to 2012. Putin’s domestic policies are aimed at maintaining a vertical power structure, stable economic growth and conservative policies. The Russian economy during Putin’s rule has become over-regulated and Moscow-centric. Putin is a sceptic of Bitcoin and has plans of establishing strict cryptocurrency regulations. However, under Putin’s presidency, Russia has become a Bitcoin mining center and has a large number of cryptocurrency users. Putin also has a coin named after him – Putincoin, which is not very popular, but has managed to establish a market capitalization of $1.85 mln. Putin is a technology enthusiast and has released some laws directed at building a digital economy for Russia.
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