A Russian president Vladimir Putin said the US is strategically using crypto and gold to reduce its debt “urgently meet the denial of trust in the dollar.”
“The US is now trying to rewrite the policies of gold and cryptocurrency markets. Remember the size of their debt – $ 35 trillion. These two sectors (crypto and gold) are essentially alternative to the traditional global currency system,” Anton Kobbyakov Says At a press briefing on Monday at the Eastern Economic Forum in Vladivostok, Russia, as reported by Russiadirect.
“As in the 1930s and 1970s, the US plans to solve financial problems at the cost of the world – this time by pushing everyone to the ‘crypto cloud,'” Kobyakov said.
It was involved in Washington moving its debt to the US dollar stablecoins to reduce it, allowing the US to “start from the beginning,” Kobyakov said, without explaining how the stablecoins really deducted the debt.
One of the suggested implementation of the approach is Senator Cynthia Lummis’ Bitcoin ActThat suggests the government buy 1 million bitcoin in five years and hold it for 20 years unless it is used to retire the remaining federal debt.
American debt problem does not slow down
US national debt seated at $ 37.43 trillion-more than a 10-fold increase since 1981- According to in US treasury data. By 33 years before 1981, US debt lasts between $ 3.3 trillion and $ 3.66 trillion.
US wants to use stablecoins for other political reasons
However, according to US officers, Stablecoins are more focused on ensuring that the US dollar remains the dominant money all over the world. “We will use Stablecoins to do that,” US Secretary of Treasury Scott Bescent said in March.
Stablecoins can also be Drive demand for debt instruments to us, which will reduce the risk of a failed debt auction and a attendant crisis, former House Speaker Paul Ryan said in July 2024.
“Dollar -supported stablecoins provide demand for public debt to us and a way to keep China.”
The US has made a huge development since then, with the president Signing Donald Trump The guide and establishment of national change for the US Stablecoins Act (Genius Act) in July law.
Russia has stablecoin plans
In June, the Russian state media reported that before Russian ruble-back stablecoin – A7A5 – is in the works and launches in the tron.
Related: The biggest NPM attack in crypto history stole less than $ 50: seal
Appears to be a step to reduce hope in US dollar stablecoin tether (USDT), used by Russia Owned oil lige in China and India.
Although Russia banned crypto payments in 2022, it became more open to the recent sector, allowing financial institutions Offer Crypto-based products to the accredited investor in May.
Magazine: Astrology can make you a better crypto entrepreneur: it was preceded
