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Ramzan Kadyrov: I bought Bitcoin too

11 February 2018 21:00, UTC

The leader of the Chechen Republic which is a Russian region similar to an American state when it comes to administrative division, Ramzan Kadyrov, claims he bought a part of Bitcoin to monitor its price and know its dynamics first-hand (something cryptocurrency journalists sometimes do as well) and wants to implement blockchain technologies in the region he governs.

Ramzan Kadyrov also repeated the message already voiced by the Russian President whom he clearly admires: the sphere of cryptocurrency and blockchain must not be prohibited, it has to be regulated and monitored instead, as there are too many frauds on the market.

The autumn of the last year in Russia was marked by the acceleration of governmental talks regarding cryptocurrency and blockchain, culminating in the order of the President to develop corresponding legislation until summer this year. Ramzan Kadyrov, one of the most conservative authoritative figures on the Russian political scene, has visibly decided to stick with the prevailing narrative.

Anyway, Kadyrov’s blockchain initiatives might be hampered by the fact that he is sanctioned under American human rights laws, which would not make the companies of the world to provide him technical assistance in this matter.