Binance CEO: Russian President Vladimir Putin’s Crypto Influence Will Be a Big Key for the Market

Binance CEO Changpeng Zhao (CZ) received a warm welcome during his maiden Russian trip for a crypto-themed event. During the event CZ revealed that Russia is a key market for Binance and one that is highly active within the crypto space, CoinDesk reports.

While giving a talk, CZ was asked to give his opinion on who will have a major impact on crypto in the future, to which he replied that it would be Russian President Vladimir Putin. Although there was laughter from the crowd, CZ explained that if there was a potential bill in Russia which might be passed very soon which then it would be a major aspect for the crypto industry.

CZ continued with his explanation adding that regulators in America are very divided while the Chinese officials will remain coy on cryptos to protect their fairly controlled economy.

Expanding to Russia

To maintain its number one spot as the world’s biggest crypto exchange firm, Binance has been looking for expansion opportunities in different parts of the world and this time round the firm has its eyes set on Russia.

In the recent past, the firm stated that it was working on a fiat on-ramp for the Russian ruble deposits but it is not yet known when the project will be launched.

According to CZ plans are also underway to open a Russian office for the exchange’s developers wing. CZ revealed that the presence of a knowledgeable programing talent in the country was the major attraction. He elaborated that a commercial office will be opened there after. In addition, CZ stated that he also intends to open a branch of its stablecoin wing Venus in the near future. He explained that he intends to foster close working relations with various stablecoin issuers especially those backed by fiat money.

Previously, the Russian government indicated that it was in the process of introducing a crypto rubie but nothing much is known about the project to date.

Do you think President Putin will enact crypto-friendly laws in Russia?

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