Bank Of Russia Has Begun To Develop National Cryptocurrency

The Bank of Russia has begun to develop a national cryptocurrency. The most famous and popular cryptocurrency today is Bitcoin. The value of a single Bitcoin today is approximately 141,000 rubles.

The Deputy Chairman of the Bank Of Russia, Olga Skorobogatova, announced at the St. Petersburg International Economic Forum, that all of the regulators within the Russian Federation came to the same conclusion that a national virtual currency should be pursued.

Initially, many Russian ministries had been considering an initiative to criminalise the manufacture and use of cryptocurrencies.

There is also talk of whether or not to consider crypto goods as commodities.

In the previous month there was discussion about the possible taxation of cryptocurrencies.