Bitcoin, Crypto currency, Blockchain

“CryptoRuble”: Russia wants to create its own crypto-currency

According to Cointelegraph, Russian President Vladimir Putin (like Dubai) has announced officially to create your own crypto-currency, the CryptoRuble.

The message from Russia is apparently in conflict with the news from the past few weeks. Often was to hear that Russia is planning a ICO-spell, or even a crypto-currency ban. The Russian Central Bank had shown towards crypto-currencies very strictly, and declared that money surrogates, as crypto-currencies, are not allowed on the ruble as a statutory fixed currency for Russia.

The Russian Ministry of Finance has made crypto-currencies and, finally, to a national issue and the financial sector of the country associated with it. Subsequently, the Russian Finance Minister said in a TV broadcast, that it was necessary to put the topic of crypto-currency in the focus, in order to improve the Financial powers of the country.

In light of this news, there is much to suggest that the Russian government is interested in the Blockchain technology, but only in the context of a state controlled crypto-currency.

So far, few Details are known.

According to the official communication from the CryptoRuble should not be dismantled. In addition, the output of public authorities is to be possible, and the use will be monitored. So owners who are not able to provide evidence of the origin of the CryptoRubles should have a tax of 13%. The same tax rate will apply to gains, i.e. the difference between purchase and sale price.

A swap between a regular, physical rubles, and the CryptoRuble should be possible at any time.

Whether there will be a prize bond between the physical and digital rubles, was not yet known. Pricing seems to be from our point of view, but at least probably.

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