From Cointelegraph
At a recent government meeting, Sergei Glazyev, economic adviser to President Putin, said the ‘CryptoRuble’ could help alleviate the pressure of Western sanctions, The Financial Times reported Monday. However, there is still no unified official stance from the Russian government on the question of issuing a national digital currency.Read more: https://cointelegraph.com/news/putin-adviser-says-cryptoruble-will-circumvent-sanctions-government-remains-dividedThe Russian CryptoRuble is essentially a digital ruble -- a government-issued digital currency accepted as legal tender.
According to FT, Glazyev stated that a government-controlled cryptocurrency like the CryptoRuble would help Russia disregard Western sanctions:
“This instrument suits us very well for sensitive activity on behalf of the state. We can settle accounts with our counterparties all over the world with no regard for sanctions.”
Well this is really going to escalate things and bring negative attention to crypto currencies in my opinion. If Putin is going to flagrantly use crypto to circumvent sanctions you can bet your ass there is going to be a global clamp down on exchanges. Is it better that we just get this over with and deal with now or should we hope they kick the can down the road a few years. Eventually sanction evasion will be used to justify tight anti money laundering regulations across the crypto ecosystem.
Leave your thoughts in the comments below.
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is there a white paper yet? kinda looking forward on putins approach...
Is there a plan for the Russians to actually start such a crypto any time soon ??
really owenderfull ur post
Another example of nations getting away from the US dollar.
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I don't see how making the money flow traceable would be a good thing for Putin