Russian President Vladimir Putin has given an order to start making crypto ruble.
Putin is sure that state crypt will help to circumvent US sanctions. Cryptoworks will allow financial operations to be carried out in rubles and at the same time to avoid sanctions that limit the opportunities to attract investment, the statement said.
However, the Financial Times states that the phenomenon of cryptography is a long-term goal.
After meeting with one of the founders of the Etereum Vitalik Buterinim, Putin has set the task of the government to build a base for regulating the market of digital currencies and blockade.
After that, Sergei Glazayev, Russia's presidential adviser on economic issues, suggested that cryptorubles be made.
"We can count on our counteragents all over the world, without paying attention to sanctions," he said at a recent government session.
President Putin now unleashes a lethal weapon to counter sanctions. Russia will be the first country to use blockchain for the monetary unit. Using cryptocurrency will make a deep impact on the economic movement of Russia both positive and negative. So let's wait and see what's going to happen and which country to join the bandwagon? China? North Korea? Palestine?
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As for Russia, some officials from the Central Bank and the Ministry of Telecom and mass communications suggested to create "cryptoruble". The economic situation in Russia much better than in Venezuela, but the country's leadership is actively seeking ways of dealing with us sanctions. According to the Minister of communications Nikolay Nikiforov, "cryptoruble" will be created in a bit different way than bitcoin. The new currency will make it easier for the government to monitor transactions, the benefits of what he expressed and other countries, the authors summarize the material for The New York Times.
Original news Inotv:
https://russian.rt.com/inotv/2018-01-05/NYT-Rossiya-i-Venesuela-planiruyut
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Is this the beginning of state regulated crypto? hmm
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and State will know all transactions)
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followed !
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This is bad for U.S. influence around the world. If Russia can side step sanctions with cryptocurrency, what would then keep the Dollar as the world reserve currency?
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