Putin Highlights Inevitable Rise of New Payment Tools Amid Dollar Concerns

According to PANews, Russian President Vladimir Putin stated at the "Russia Calling!" investment forum on December 4 that the development of new payment tools is progressing naturally and is an unavoidable process. He emphasized that technologies like Bitcoin cannot be banned, nor can other electronic payment tools, as they represent new technological advancements. Regardless of what happens with the dollar, these tools will continue to evolve as everyone seeks to reduce costs and enhance reliability. Putin further noted that if the global usage of the dollar continues to decline, it would undermine the economic strength of the United States. He questioned the rationale behind accumulating foreign exchange reserves if they can be easily lost. Putin criticized the current U.S. administration for undermining the dollar's role as a global reserve currency by using it for political purposes, which is prompting many countries to turn to alternative assets, including cryptocurrencies.