Cryptocurrencies Would Play a Huge Role in Trades, Says Russian Foreign Minister

Sergei Lavrov, the Foreign Minister of Russia has recently made a statement telling the world what Russia is planning to do in the future. Lavrov stated that Moscow has made a decision as to how it is going to do trades. Lavrov has stated that Russia no longer wishes to deal in the United States Dollars.

Lavrov stated that the cryptocurrency industry has started emerging and growing at a really fast rate since 2020. Digital currencies have gained tremendous growth and success in such a short amount of time. Therefore, the country is now planning to make a shift towards cryptocurrencies rather than blindly following what others are following.

The Foreign Minister stated that for now, cryptocurrencies are being used for online trades and other activities. With the passage of time, the cryptocurrency industry would grow bigger and cover more areas, where real-time trades would also be included.

He stated that Russia is looking at cryptocurrencies from a completely different angle. According to the country, cryptocurrencies would play a huge role in real-time trades and may even push out USD from the markets.

This has given a great boost and hopes to the cryptocurrency communities that are hoping to find innovative use-cases for cryptocurrencies. The cryptocurrency communities are also hoping that cryptocurrencies will be adopted in international trades and settlement deals.

The recent statement from Lavrov may once again boost the price of cryptocurrencies in the entire crypto-verse. The impact of the latest statement released by Lavrov has already caused a significant impact in the cryptocurrency industry.

The overall prices of cryptocurrencies have already started picking up and the market capitalization of cryptocurrencies is also increasing.

Lavrov also made a statement that further cemented the presence of cryptocurrencies in mainstream industries. He stated that in the coming years, cryptocurrencies would end up making a place in international trades as well as financial infrastructures.

This is something that is inevitable and any efforts made to stop the cryptocurrency industry from expanding would prove futile. Therefore, the world needs to realize the importance of cryptocurrencies and adopt them as soon as possible.

The world of cash and traditional finances is nearing its end and the countries that adopt cryptocurrencies and digital assets would be the ones to survive and thrive in the future.

Although the entire cryptocurrency community finds the statement very promising, yet it has caused a lot of confusion among industrial investors. It is unclear whether Lavrov talked specifically about cryptocurrencies, central bank digital currencies, or even both.

On several occasions, government officials have referred to central bank digital currencies as cryptocurrencies. Therefore, it is currently not clear if Lavrov talked about cryptocurrencies or CBDC.