Russia could shortly launch the CryptoRublo, a digital version of the Russian ruble, likely based on the Ethereum blockchain, which will not be mined and will be fully controlled by the Russian government.

Beware of the movement in Russia, because it is very important, since as the President of Russia has said behind closed doors, Russia would officially launch its own cryptocurrency on the market, known right now as 'CryptoRublo'. This information has been revealed by local sources, after a closed-door meeting in Moscow. Who would have made this leak, would be the Minister of Communications, Nikolay Nikiforov. It makes a lot of sense and it isn't the first time you've heard talk about a possible government cryptocurrency based, according to rumors, on Ethereum.

According to Nikiforov, he has said that this cryptocurrency cannot be mined, it will remain as a closed token that the authorities will issue, control and maintain. These CryptoRubles can be exchanged for paper Rubles at any time, but will have a restriction, since if someone cannot explain the origin of the CryptoRubles, a tax of 13% of the amount will be imposed. Not only that, if you buy at 10 and sell at 20, you will also have to pay a 13% tax on the sale price. Nikiforov in this regard has stated that: 'he trusted that we declare that we manage CryptoRublo for a simple reason: nor do we not, after two months, our neighbors in Europe, Asica or the United States, will'

Despite Russia's headlining entry into the cryptocurrency market, this does not indicate a legalization of Bitcoin or other cryptocurrencies, they are different things. On the possibility that it is based on the Ethereum blockchain, it is high, because Vitalik Buterin is Russian and we know that on previous occasions he has collaborated with the authorities and has support from the government. We will see how events go, although it is a great opportunity for the country, after the great devaluation suffered by the Russian ruble in recent years.

Source: CT