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Russia will issue its own “CryptoRuble”

Russia will issue its own CryptoRuble

According to a local news source, the Russian president, Vladimir Putin, in a closed door meeting in Moscow, announced that Russia will issue its own ‘CryptoRuble’. The minister of communications, Nikolay Nikiforov confirmed the official announcement.

 Nikolay Nikiforov stated that the crypto currency issued by the state cannot be mined and will be issued, controlled and maintained only by the authorities. Moreover, the CryptoRubles can be freely exchanged for regular Rubles.

However, if any holder is not able to explain the origin of the CryptoRubles, a 13-per cent tax will be levied on him. The same (13 percent) tax would be applicable to any earned difference between the price of the purchase of the token and the price of the sale. 

As per commentators, although this announcement seems that Russia would soon entre the crypto currency world, this could not be seen in any way as an affirmation or legalization of Bitcoin or any other decentralized crypto currency. Rather, the Russian president had earlier called for a complete ban on all crypto currencies within Russia.

They said that the new statement seems t contradict the previous comments from other ministers, but only with regulations. Meanwhile, the reports suggest the CryptoRuble will be issued quickly.