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.  

Recent Posts

Bitcoin mining as a catalyst in the world’s transition to green energy

Bitcoin mining to drive the world’s transition to green energy. This is what Mike Colyer, Chief Executive Officer of Foundry Digital,…

12 hours ago

April 14, HUGE day for Crypto as Coinbase direct listing is just hours away

Today is a huge day for Crypto. Coinbase, the top cryptocurrency exchange in the United States, will launch its COIN…

14 hours ago

Bitcoin is not a good option for criminals, says former CIA Director in a new report

Bitcoin is not really being used in money laundering operations. And considering the fact every transaction is recorded on the…

1 day ago

“caged bull” Bitcoin breaks into a new all-time high of almost $63,000

Just a day after Bloomberg analyst Mike McGlone called Bitcoin a “caged bull, well rested to escape”, the latter seemed…

1 day ago

Ripple files motions to dismiss lawsuit as XRP blasts to new three-year high

Just before the weekend, Judge Sarah Netburn ruled that Ripple executives Brad Garlinghouse and Chris Larsen’s did not have to…

1 day ago

Cardano, more than a hedge against Ethereum?

In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the…

1 day ago