Key Highlights Ethereum classic price is facing a major upside barrier near the $12.50 level against the US Dollar. There is a key bullish trend line forming with support at $11.80 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pai…
Key Highlights Ethereum classic price is facing a major upside barrier near the $12.50 level against the US Dollar. There is a key bullish trend line forming with support at $11.80 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair might once again attempt an upside break above the 12.50 … Continue reading Ethereum Classic Price Technical Analysis – ETC/USD Attempting Upside Break
Gizer’s pre-ICO for GZR token is starting from October 20, 2017, as recently announced by the company. Gizer is a popular, innovative platform that connects mobile gamers via different products, services and competition on its app. At present, GZR toke…
Gizer’s pre-ICO for GZR token is starting from October 20, 2017, as recently announced by the company. Gizer is a popular, innovative platform that connects mobile gamers via different products, services and competition on its app. At present, GZR tokens are only available to accredited investors under the Simple Agreement for Future Tokens (SAFT) at … Continue reading Gizer Announces Presale of GZR Token, Starting from October 20, 2017
Hello and welcome to News BTC’s Market Outlook October 16. DASH/USD DASH rally during the day on Friday, reaching towards the $316 level. We found a bit of resistance there though, and then pulled back towards the $300 level. I think there’s plenty of …
Hello and welcome to News BTC’s Market Outlook October 16. DASH/USD DASH rally during the day on Friday, reaching towards the $316 level. We found a bit of resistance there though, and then pulled back towards the $300 level. I think there’s plenty of support there, extending down to the $280 level below. Because of … Continue reading DASH/USD and LTC/USD Technical Analysis October 16 2017
Russia’s president Vladimir Putin has reportedly ordered the issue of the national cryptocurrency, the “cryptoruble.” The Russian Minister of Communications and Mass Media has revealed some details of this new currency. Also read: Putin Confirms Russia Will Regulate Cryptocurrencies Putin’s Executive Order Russia’s Minister of Communications and Mass Media, Nikolay Nikiforov, said at a closed meeting […]
Russia’s president Vladimir Putin has reportedly ordered the issue of the national cryptocurrency, the “cryptoruble.” The Russian Minister of Communications and Mass Media has revealed some details of this new currency.
Russia’s Minister of Communications and Mass Media, Nikolay Nikiforov, said at a closed meeting with members of the Moscow Capital Club that Putin has ordered the issue of the country’s own cryptocurrency, the cryptoruble, AIF newspaper reported on Saturday.
This decision followed the meeting that Putin had with Russia’s top regulators last week where he instructed the central bank not to create “unnecessary barriers” to cryptocurrencies. Referring to the text of the government’s decree on the issuance of the cryptoruble, Nikiforov said:
I so confidently declare that we will [soon] launch a cryptocurrency for one simple reason: If we do not, then in 2 months, our neighbors in the Eurasian Economic Community will do it.
Preliminary Details of Cryptoruble
Nikiforov believes that “the cryptoruble will be issued quickly,” the publication noted. The official also said that the efficiency of the new cryptocurrency will “streamline the payment of personal income tax,” which would make the new currency legal tender in Russia.
The country currently has a flat 13 percent income tax rate. However, Putin has called for a reform of the tax system in order to boost economic growth. He ordered the tax code to be adjusted in 2018 and be implemented in 2019, according toThe Moscow Times.
While Nikiforov said the details of the cryptoruble have yet to be discussed, AIF reported him explaining:
When buying and selling a cryptoruble, the amount will be 13% from the earned difference…If the owner can not explain the reason for the appearance of his cryptorubles, when converting them into Russian rubles, the tax for him will be 13% of the total.
Furthermore, the cryptoruble cannot be mined, the minister noted, adding that “most likely, it will be a closed model with a certain volume of regulated emissions.”
Russia’s Central Bank advocated for a national cryptocurrency earlier this month. Deputy Governor, Olga Skorobogatova, said at the Finopolis forum of innovative financial technologies that the bank sees many benefits in a state-run cryptocurrency. Also among the supporters for a national cryptocurrency is First Deputy Prime Minister Igor Shuvalov, who said in August that a cryptoruble should exist.
Cryptoruble Is Not Legalization of Cryptocurrencies
Regarding the regulation of cryptocurrencies, the minister explained that:
The creation of the cryptoruble would not equal the legalization of bitcoin and other cryptocurrencies. Russia’s cryptocurrency should use Russian cryptography.
After the meeting with Putin last week, the regulators decided that Russia will regulate cryptocurrencies. The finance ministry is working with the central bank to draft a bill which is expected by the end of the year, according to Finance Minister Anton Siluanov.
What do you think of the cryptoruble? Do you think it will succeed? Let us know in the comments section below.
Images courtesy of Shutterstock and AIF.
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The problem of the internet today is the growing efficiency of government’s eavesdropping and censorship capabilities across most of the world wide web. The denial of the basic principle of network neutrality has been ruthlessly defended (even denied) …
The problem of the internet today is the growing efficiency of government’s eavesdropping and censorship capabilities across most of the world wide web. The denial of the basic principle of network neutrality has been ruthlessly defended (even denied) by the Chinese, Iranian, Australian, German, and American people among others. The government firewalls are growing increasingly … Continue reading Privatix- The Blockchain Solution to Internet Censorship.
Hello and welcome to News BTC’s Market Outlook October 16. ETH/USD Ethereum rallied significantly during the trading session on Friday, reaching as high as $348. This explosive move is obviously overbought though, so at this point you pretty much need …
Hello and welcome to News BTC’s Market Outlook October 16. ETH/USD Ethereum rallied significantly during the trading session on Friday, reaching as high as $348. This explosive move is obviously overbought though, so at this point you pretty much need to wait for pullbacks to pick up value. I see a significant amount of support … Continue reading ETH/USD and ETH/BTC Technical Analysis October 16 2017
Hello and welcome to News BTC’s Market Outlook October 16. BTC/USD The Bitcoin markets rallied during the day after initially falling on Friday as word got out that Chinese regulators may be reconsidering the ban on crypto currency exchanges. Because o…
Hello and welcome to News BTC’s Market Outlook October 16. BTC/USD The Bitcoin markets rallied during the day after initially falling on Friday as word got out that Chinese regulators may be reconsidering the ban on crypto currency exchanges. Because of this, we are now testing the 5800 level. It’s obvious that we are going … Continue reading BTC/USD and BTC/JPY Technical Analysis October 16 2017
Key Highlights ETH price is trading higher and is currently attempting a break above $346 against the US Dollar. There is a new connecting bullish trend line forming with support at $336 on the hourly chart of ETH/USD (data feed via SimpleFX). The pric…
Key Highlights ETH price is trading higher and is currently attempting a break above $346 against the US Dollar. There is a new connecting bullish trend line forming with support at $336 on the hourly chart of ETH/USD (data feed via SimpleFX). The price might attempt an upside break towards $352 in the near term. … Continue reading Ethereum Price Technical Analysis – ETH/USD Poised for Further Gains
Key Highlights Ripple price after testing the $0.2350 support against the US Dollar found bids and moved higher. There was a break above a bearish trend line with resistance at $0.2550 on the hourly chart of the XRP/USD pair (data source from Kraken). …
Key Highlights Ripple price after testing the $0.2350 support against the US Dollar found bids and moved higher. There was a break above a bearish trend line with resistance at $0.2550 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is now above the 100 hourly simple moving average and … Continue reading Ripple Price Technical Analysis – XRP/USD Back Above Support
Key Points Bitcoin cash price is finding bids above the $300 support area against the US Dollar. There is a contracting triangle pattern forming with resistance at $324 on the hourly chart of BCH/USD (data feed from Kraken). The price is likely to move…
Key Points Bitcoin cash price is finding bids above the $300 support area against the US Dollar. There is a contracting triangle pattern forming with resistance at $324 on the hourly chart of BCH/USD (data feed from Kraken). The price is likely to move inside a range above $300 before making the next move. Bitcoin … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD To Consolidate Short-term
Bitcoin price could be due for a pullback after its strong breakout move, with tech indicators confirming that the rally could resume.
The post Bitcoin Price Technical Analysis for 10/16/2017 – Waiting for a Pullback appeared first on NEWSBTC.
Bitcoin price could be due for a pullback after its strong breakout move, with tech indicators confirming that the rally could resume.
Russia’s president Vladimir Putin has reportedly ordered the issue of the national cryptocurrency, the “cryptoruble.” The Russian Minister of Communications and Mass Media has revealed some details of this new currency. Also read: Putin Confirms Russia Will Regulate Cryptocurrencies Putin’s Executive Order Russia’s Minister of Communications and Mass Media, Nikolay Nikiforov, said at a closed meeting […]
Nikiforov believes that “the cryptoruble will be issued quickly,” the publication noted. The official also said that the efficiency of the new cryptocurrency will “streamline the payment of personal income tax,” which would make the new currency legal tender in Russia.