Russia’s ‘cryptorubles’ won’t be very crypto in any way

This report evokes the old joke regarding how there were only two television stations in the Soviet Union: Network 1, with federal government programs, as well as Channel 2, where a KGB representative informed visitors to transform back to Network 1.

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Russia to release ‘cryptoruble’

By Jon Buck
The Coin Telegraph
Sunday, October 15, 2017

Russian President Vladimir Putin has formally specified that Russia will certainly release its very own “cryptoruble.” He spoke at a closed-door conference in Moscow, according to regional news sources. The information broke through Priest of Communications Nikolay Nikiforov.

According to that authorities, the state-issued cryptocurrency can not be mined and will certainly be issued, regulated, and maintained just by the authorities. The cryptorubles can be traded for normal rubles at any moment, though if the holder is unable to explain where the cryptorubles originated from, a 13-percent tax will certainly be levied. The exact same tax will be put on any kind of earned difference in between the price of the purchase of the token and the price of the sale. Nikiforov claimed. …

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