Russia starting ‘CryptoRuble’ !!!!!!!!!!!!!!

[BTCMILLIONAIRE]

Putin green lights launch of the CryptoRuble
Published time: 17 Oct, 2017 10:59

Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting.
Read more

The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the government.

“I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbors in the Eurasian Economic Community will do it in a couple of months,” said Nikiforov.

All the financial operations involving the CryptoRuble will be taxed according to the minister. The tax will also be applied to any appreciation in value.

“When buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total,” he said.

The national digital currency will be moved to international markets, according to the Russia's Deputy Minister of Economic Development Oleg Fomichev, stressing that there is no point in the currency circulating only inside the country.

“This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy,” he said.

https://www.rt.com/business/406960-russia-issue-blockchain-cryptoruble-putin/

How are they going to ban "other cryptocurrency mining" ? lol...

I would be fine with paying 13% tax though. Still better than the almost 40% capital gains tax in some other places.

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[yugyug]

creating cryptorubble for internal use for Russian States has no market value to the other countries, although it goes thru  a blockchain, for a state controlled cryptocurrency, the essence of anonimity and decentralization lost the integrity of cryptocurrency concept. The Russian's CryptoRuble is pointless after all, i have no clue why they will try to do that if they  hvae an existing electronic payment system design for Russian state. Having CryptoRuble doesn't mean it can stop other crypto related trading in Russia.

[CTO@MyBitMine]

This is interesting news but Im russian and I can tell you what: this idea wont be realize in this country, government wants to control crypto adn have own tax, but with such big corruption level it won't happen soon.

[virasog]

Well it seems good and look like official. Anyways i heard there's no way to mining this cryptoRuble so i think its hard to gain it. Its a new so maybe there's some few people are involve with it. Lets see in future what will happen.

[nonn069]

i remember putincoin...

[Be_Happy]

The authorities want to learn how to control the currency and wants to create their own coins, but I do not think that this will bring much success. Let's see what happens from this.

[Malaya]

Russian news is making it's way on it and yes it's being officialized. This one crytocurrency, 'CryptoRuble' has been approved as well by Kremlin as I've heard. However, it has been said that this cryptocurrency cannot be used for mining. This altcoin has it's own use and capacity for the users. For Russia this is good to continuously expand their digital currency for their market and also for them to have a control of it.

This also a good opportunity for Russia to explore for on digital currencies.

[Gloria_16]

Пpeзидeнт и пpeдceдaтeль Cбepбaнкa  Гepмaн Гpeф нe вepит в вoзмoжнocть coздaния нaциoнaльнoй кpиптoвaлюты в Poccии - кpиптopyбль. Oб этoм oн зaявил в интepвью пo "poccия 24"

[dacryptomoney]

This sounds absolutely ridiculous to me. I think that the Russians are trying to scam other people because their original "ruble" has lost all it's value.

[whoeier]

Putin green lights launch of the CryptoRuble
Published time: 17 Oct, 2017 10:59

Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting.
Read more

The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the government.

“I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbors in the Eurasian Economic Community will do it in a couple of months,” said Nikiforov.

All the financial operations involving the CryptoRuble will be taxed according to the minister. The tax will also be applied to any appreciation in value.

“When buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total,” he said.

The national digital currency will be moved to international markets, according to the Russia's Deputy Minister of Economic Development Oleg Fomichev, stressing that there is no point in the currency circulating only inside the country.

“This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy,” he said.

https://www.rt.com/business/406960-russia-issue-blockchain-cryptoruble-putin/

How are they going to ban "other cryptocurrency mining" ? lol...

I would be fine with paying 13% tax though. Still better than the almost 40% capital gains tax in some other places.

They are probably just going to fine each and everyone with the full value that has been mined ( provable/on feeling).
The only upside is indeed the tax Tho I prefer my own tax on BTC earnings, as my country sees it as investmentvalue thus taxxes accordingly ( approx 4%)

[BTCMILLIONAIRE]

Putin green lights launch of the CryptoRuble
Published time: 17 Oct, 2017 10:59

Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting.
Read more

The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the government.

“I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbors in the Eurasian Economic Community will do it in a couple of months,” said Nikiforov.

All the financial operations involving the CryptoRuble will be taxed according to the minister. The tax will also be applied to any appreciation in value.

“When buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total,” he said.

The national digital currency will be moved to international markets, according to the Russia's Deputy Minister of Economic Development Oleg Fomichev, stressing that there is no point in the currency circulating only inside the country.

“This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy,” he said.

https://www.rt.com/business/406960-russia-issue-blockchain-cryptoruble-putin/

How are they going to ban "other cryptocurrency mining" ? lol...

I would be fine with paying 13% tax though. Still better than the almost 40% capital gains tax in some other places.

They are probably just going to fine each and everyone with the full value that has been mined ( provable/on feeling).
The only upside is indeed the tax Tho I prefer my own tax on BTC earnings, as my country sees it as investmentvalue thus taxxes accordingly ( approx 4%)

Damn, where do you live? And do you get the 4% tax rate regardless of how long you hold?

[gsg07]

Oh, yes...this subject, today are in top...I don't know, but how can speak about it, when not decided
 allow cryptocurrency officially, or not...

[CryptoRama]

lol, can't wait what will come out of this, if it will not be mined, then will the government mine the currency? I cannot comprehend a blockchain without mining... is that even possible? to make cryptocurrencies in an instant? I know tokens can. Is it a cryptocurrency if it's not mined? like ripple, was ripple even mined? I forgot... Then it's not a cryptocurrency is it? But why we consider ripple in crypto if it's not? Or is it, correct me if I'm wrong.

[leea-1334]

Well, we can speculate and throw rumours around all we want, but the fact remains that all the official word from Putin and the Russian Central Bank has only favoured a national cryptocurrency, and an intention to regulate exchanges and crypto. Nothing solid or permanent has happened so we can only wait. I believe that is what Russia is doing. Waiting. And learning. And then they will be ready to do whatever they want.

My idea: they will not ban Bitcoin, they will regulate heavily. And maybe launch a blockchain project, but not crypto.

[Kat_messy]

Yes, sounds like it is official.

seriously? I can't believe in that because it's pointless

[Sindren]

As I have just mentioned in another topic it is normal process. The government have to take control upon the cryptocurrency sphere. Starting cryptoruble or prohibiting cryptocurrenvy there are two different version but the reason is one: regulation.

[Smolko]

Well it will be a blockchain, there will be coin.
But everything will be centralized, but they wanna make an official coin a lot of possibilities arise with it!

[billyj111]

CryptoRuble its shitcoin)) Because the Russian authorities are interested in controlling all citizens

[whoeier]

CryptoRuble its shitcoin)) Because the Russian authorities are interested in controlling all citizens

well ye.. that is indeed the point many of us have already made here There is no decentralization if the government is getting involved

[nonn069]

the coin its opensource or clossed
 some news?