Russian President Vladimir Putin has expressed confidence in the resilience and continued growth of Bitcoin and other cryptocurrencies, asserting that no entity can ban them. Speaking at an investment conference in Moscow on Wednesday, Putin stated, “Who can ban Bitcoin? Nobody. And who can prohibit the use of other electronic means of payment? Nobody.”

Putin emphasized that cryptocurrencies represent emerging technologies that will persist despite any economic challenges or shifts in global currencies like the dollar. “These tools will develop one way or another because everyone will strive to reduce costs and increase reliability,” he added.

The statement comes as Russia continues to explore digital currencies as part of its financial strategy. While cryptocurrencies face regulatory hurdles globally, Putin’s remarks highlight the inevitability of technological advancement in the payment sector, potentially signaling Russia’s openness to embracing these innovations.