The Minister of Communications of the Russian Federation: Russia is going to launch its own cryptocurrency | Блокчейн и Биткоин в России

Nikiforov Nikolai, the Minister of Communications and Mass Media of the Russian Federation, announced at the closed-door meeting with the members of the Moscow Capital Club:

“Russia will issue its own cryptocurrency — the cryptoruble. This decision was taken by the Russian President.”

Nikiforov referred to the text of the government's decree with all the regulations. "I’m so confident about this launch because of one simple reason: if we don’t launch it, then in 2 months our neighbors in the Eurasian Economic Community will do it for us," the minister said.

According to his opinion, the cryptoruble will be made in no time. For the efficiency of the cryptoruble, they are going to streamline the payment of personal income tax. In this case, if the owner can’t explain the reason of the appearance of his cryptorubles, when performing the exchange cryptocurency into Russian rubles, the tax for him will be 13% of the total amount. In case of buying or selling a cryptoruble, the amount will be 13% from the earned difference.

“We still need to discuss all these issues,” said Nikiforov.

The minister explained that the creation of a cryptoruble would not equal to the legalization of bitcoin and other cryptocurrencies.

“Russia's cryptocurrency should use Russian cryptography,” the minister said.

“Moreover, the cryptoruble will not be able for mining,” he added.

Nikiforov explained that most likely, it will be a closed model with a certain volume of regulated emissions.