WASHINGTON (dpa-AFX) - Russia intends to issue its own official cryptocurrency, the CryptoRuble, according to reports.
According to Coin Telegraph, Russian President Vladimir Putin has officially stated that Russia will issue its own cryptocurrency 'CryptoRuble' at a closed door meeting in Moscow. The report cites a local news sources, which cites Minister of Communications Nikolay Nikiforov.
Unlike Bitcoin, the CyptoRuble cannot be mined and will be issued and controlled and maintained only by the authorities. The CryptoRubles can be exchanged for regular Rubles at any time. A 13 percent tax will levied if the holder is unable to explain where the CryptoRubles came from and the same amount of tax will be applied to any earned difference between the price of the purchase of the token and the price of the sale as well.
Copyright RTT News/dpa-AFX