Russia’s President Vladimir Putin Is In Action Now – Cryptocurrencies Attracts

 

Russia’s President Vladimir Putin Is In Action Now – Crptocureencies Attracts 

Very Clearly Russia’s president Vladimir Putin has ordered to issue the national cryptocurrencies i.e. “cryptoruble . Nikolay Nikiforov The Russian Minister of Communications and Mass Media has given some details of this new currency. Putin Confirms Russia Will Regulate Cryptocurrencies and guided central bank to work on the legislation part. Russian economy will create a strong base of regulations where it will be difficult to dose the system. At a secret meeting with members of the Moscow Capital Club where Putin has ordered the issue of the country’s own cryptocurrency i.e cryptoruble. This strong decision followed in the meeting where Putin had word with Russia’s top regulators last week. In this meeting he instructed the central bank not to create “unnecessary barriers” to cryptocurrencies.

Putin’s Vision

Putin confidently declare that we will soon launch a cryptocurrency for many simple reasons. But prominent reason for Putin to chase the concept of crypto currency that 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 also ordered the tax guidelines to be revised in 2018 and to be implemented in 2019.  When Russia will have own crypto currency in that case mechanism buying and selling a cryptoruble will initiate it will fetch huge amount on conversion of the currency i.e cryptorubles. Most probably it will be a closed model with a certain volume of regulated emissions. New cryptocurrency will streamline the payment of personal income tax based on automation systems which would make the new currency legal tender in Russia.