Russia is ready to release cryptoruble

To recall that last Thursday the establishment of national cryptocurrency was commissioned by the Russian President Vladimir Putin. This week the Minister of Communications and Mass Media Nikolay Nikiforov stated at a closed meeting that Russia need immediately create national cryptocurrency.

He also noted that the national cryptocurrency will be traded internationally in the near future to get ahead of neighbors of the Eurasian Economic Union. Moreover, according to the Minister, after cryptoruble will be officially launched managed by Government all other cryptocurrency will be banned in the Russian Federation.

Firstly, it will not be possible to mine cryptoruble. Secondly, purchases and sales of cryptoruble will be taxed, this is 13% of personal income. Finally, it will not cause to automatic legalization of another cryptocurrency, for example, Bitcoin.

According to the Director of the Institute of Finance and Law Maksim Maramugin, Russian bureaucracy is fulfilling formally the mandate of Vladimir Putin. The President said them to do it and they did it. Creating national cruptocurrency that reflects only all the disadvantages of cryptocurrency will not make any positive changes in the economy.

- Christina