On a closed door meeting in Russian capital Moscow, Russian President Vladimir Putin officially stated that they will issue its own Cryptocurrency called “CryptoRuble”. This was first announced by Nikolay Nikiforov who is the local minister of Communications.
CryptoRuble cannot be mined and it will be 100% controlled and operated by authorities. The cryptourrency can be traded with their local currency Ruble at any time. But under condition that you are able to explain the authorities where did you get it. Else you will pay 13% tax. Additionally, same tax will be applied to any profit you make with the currency.
Nikolay Nikiforov said:
“I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after 2 months our neighbors in the EurAsEC will.”
more on source below.