Russia announces plans for the national CryptoRuble
Image [2]
Finally some official news of the national CryptoRuble as reported on RT News [1].
Problem is that other cryptocurrency mining will be banned and there is a 13% tax on profit.
Which is quite high in my opinion and will obviously make buying and selling CryptoRuble undesirable. Hence less demand for it.
The article didn’t state if buying and selling of cryptocurrencies will be banned or not.
CryptoRubles can be converted to Rubles. No information is given if the cryptocurrency is pegged to the Ruble.
If it’s going to be pegged to the Ruble then the Central Bank of Russia will control the ratio just like the repurchasing rates (repo rate).
Reference Source:
[1] https://www.rt.com/business/406960-russia-issue-blockchain-cryptoruble-putin/
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