RE: Vladimir Putin announced Russian cryptocurrency called 'CryptoRuble'

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Vladimir Putin announced Russian cryptocurrency called 'CryptoRuble'

in cryptocurrency •  7 years ago 

13% tax for non-explained holdings is actually pretty attractive for launderers. Russia might become like Switzerland. Also the crypto-ruble is not meant to be an attack on Bitcoin but rather an attack on banks. There is an internal struggle between different groups inside the Kremlin. Putin is not the single power there, it's a myth. But the crypto-rouble looks like a good thing for Putin and the people, because the dubious russian banking system is weakened. It makes Russia less vulnerable against banking crises and foreign financial attacks, very clever.

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Anyone could convert any Crypto into crypt-ruble and pay a 13% tax. So you still get to keep 87%, and technically everything is legal here, no illegal schemes come into play.

The 13% tax applies only if crypto-ruble is converted to regular ruble and only if someone does not (want) explain the origin of his crypto-ruble. It is like a legal laundering service that costs 13% fee. It will attract the secret wealth of many oligarchs back home making it clean legal wealth. In most other countries one faces 100% forfeiture if the origin is not explained.