Putin ordered the issuance of the crypto-currency Russian national

Russian president Vladimir Putin would have dealt with the question of the crypto-currency national, the ” cryptorouble “. The Russian minister of Communications and mass Media has revealed some details of this new currency.


An executive order by the Russian president

Nikolay Nikiforov, Russian minister of Communications and Media, said at a closed-door meeting with members of the Moscow Capital Club that Putin had ordered the issuance of a crypto-national currency, namely the ” cryptorouble “. According to the newspaper AIF, this decision follows the meeting that Putin had with the main regulatory bodies of the Russia last week. Meeting during which it asked the central bank not to create “unnecessary barriers” to crypto-currencies. Referring to the text of the decree of the government on the issuance of the cryptorouble, Nikiforov said : “I declare with great confidence that we will soon launch a crypto-currency for the simple reason that if we don’t do that, in two months our neighbors in the eurasian economic Community will.


Individuals find their accounts

Nikiforov believes that the “cryptorouble” will be created quickly. The minister also said that the effectiveness of the new crypto-currency “will standardize the payment of the tax on income of individuals”, which would make the new currency legal in Russia. The country currently has a tax rate on income of 13 %. However, Putin has called for a reform of the tax system to stimulate economic growth. He ordered that the tax code be adjusted in 2018 and implemented in 2019, according to The Moscow Times.

Here is a small video clip explaining the enthusiasm of the Russia for crypto-currencies.

The creation of the “cryptorouble” does not automatically lead to the legalization of crypto-currencies

The Russian minister of Communications and mass Media explained that the creation of the cryptorouble does not mean the legalization of Bitcoin and other crypto-currencies. The crypto-currency Russian should use the cryptography Russian. In fact, after the meeting with Putin, the regulators have decided that Russia was going to regulate crypto-currencies. The ministry of Finance is working with the central bank to draft a bill which should be published by the end of the year, according to Finance minister Anton Siluanov.

Source : News.Bitcoin