Russia plans its own Cryptocurrency Exchanges

Russian media recently revealed plans to create a national cryptocurrency to be used alongside the ruble. The Federal Financial Monitoring Service’s 
(Rosfinmonitoring), released the plan to TV stations and newspapers across the 

Deputy Director of Rosfinmonitoring, Pavel Livadny, hopes that the new currency will be more convenient for Russians, and reduce the costs related to financial transactions. At the same time, there are plans to ban all other 
cryptocurrencies, including bitcoin.

bitcoin russia

Rosfinmonitoring mentioned that they have already begun talks with major 
stakeholders in the future cryptocurrency exchange platform; The Finance 
Ministry and the Central Bank. In stark contrast to Bitcoin, the plan for the 
Russian cryptocurrency explicitly says that it will have a central issuer in 
control over the currency’s supply.

This news comes at a time of impressively steady growth in the trading volume 
between bitcoins and rubles on the unregulated LocalBitcoins platform.

Read More @

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s