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Putin green lights launch of the CryptoRuble

October 17th, 2017
Categories: Past News

Link: https://www.rt.com/business/406960-russia-issue-blockchain-cryptoruble-putin/

Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting. The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the government. All the financial operations involving the CryptoRuble will be taxed. The tax will also be applied to any appreciation in value. The national digital currency will be moved to international markets, according to the Russia's Deputy Minister of Economic Development Oleg Fomichev, stressing that there is no point in the currency circulating only inside the country.

“This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy.

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