Putin confirms Russia will issue crypto ruble, other countries may follow soon

According to local Russian news sources, Russian President Vladimir Putin has officially confirmed at a closed-door meeting in Moscow that the country will issue its own ‘cryptoruble.’ The news came from Russia’s Minister of Communications Nikolay Nikiforov.

According to official sources, the cryptocurrency issued by the country is not generated through mining, but is only issued by the authorities who are responsible for controlling and maintaining it. This crypto ruble can be used to exchange for current rubles at any time, but if the holder cannot explain the origin of his crypto ruble, he will be charged a 13% tax. In addition, any difference between the purchase price and the sale price of the token will also be subject to the same tax. Nikiforov said:

“I declare with certainty that we will issue the cryptoruble for one simple reason: even if we don’t do it, our neighbors in the Eurasian Economic Community will do it in two months.”

Acceptance and Rejection

The announcement means that Russia will officially enter the world of cryptocurrency, but it does not mean that Russia recognizes or legalizes Bitcoin or any other decentralized cryptocurrency. Recently, Putin called for a complete ban on all unofficial cryptocurrencies in Russian regions.

The statement from President Putin clearly contradicts previous comments from other ministers who support cryptocurrencies, and Putin himself has previously met with blockchain industry figures such as Ethereum founder Buterin. Now, with the upcoming launch of the crypto ruble, this apparent contradiction has become clear.

What do you think?