{"id":4508,"date":"2018-01-16T22:00:50","date_gmt":"2018-01-16T19:00:50","guid":{"rendered":"https:\/\/forklog.media\/?p=4508"},"modified":"2018-01-25T15:24:47","modified_gmt":"2018-01-25T12:24:47","slug":"russia-postpones-crypto-ruble-launch-to-mid-2019","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russia-postpones-crypto-ruble-launch-to-mid-2019\/","title":{"rendered":"Russia Postpones \u201cCrypto Ruble\u201d Launch to Mid-2019"},"content":{"rendered":"<p>According to Arseni Scheltsin, the director of Russia\u2019s Cryptocurrency and Blockchain Association, the proposals on creating and regulating a national cryptocurrency will be officially presented in July 2018, while a full-fledge launch would take a year after that.<!--more--><\/p>\n<p>The development of regulatory documents for \u201ccrypto ruble\u201d is carried out by the country\u2019s Central Bank, the Ministry of Communications, the Ministry of Economic Development, the Ministry of Finance, and the Presidential Administration.<\/p>\n<blockquote><p><strong>\u201cThe required documents will be developed and presented this fall. They will be harmonized by the end of the year, and the launch itself will happen in mid-2019,\u201d<\/strong> Mr. Scheltsin said.<\/p><\/blockquote>\n<p>He added that \u201ccrypto ruble\u201d is developed as a digital counterpart of Russia\u2019s national currency, while the security of its transactions will be ensured with a private blockchain, and the coin itself will not be mineable.<\/p>\n<blockquote><p><strong>\u201cCrypto ruble won\u2019t be as popular as Bitcoin or Ethereum as it won\u2019t be mineable. Its exchange rate against ruble will remain steady, and there won\u2019t be any sense in mining. It can\u2019t be a trader\u2019s toy. Checking cryptoruble will be possible via nodes,\u201d<\/strong> Mr. Scheltsin stated.<\/p><\/blockquote>\n<p>Russia\u2019s Cryptocurrency and Blockchain Association believes that this kind of national digital currency will help attract foreign cryptocurrency investment. Moreover, it is supposed be the only legal way to exchange virtual money for rubles since other cryptocurrency exchanges will be outlawed. Cryptoruble will also be used in public procurement.<\/p>\n<blockquote><p><strong>\u201cEvery public spending will be recorded in blockchain, and the full path between the sender and the receiver will be traceable. This will enhance the efficiency of public spending,\u201d<\/strong> Mr. Scheltsin added.<\/p><\/blockquote>\n<p>In the early days of 2018, one of Russia\u2019s president Vladimir Putin\u2019s counselors has stated that \u201ccrypto ruble\u201d will limit the impact of international sanctions on Russia\u2019s economy.<\/p>\n<p>Earlier, Russian sources <span style=\"text-decoration: underline;\"><a href=\"http:\/\/forklog.media\/russia-to-legalize-cryptocurrency-trading-on-approved-exchanges\/\" target=\"_blank\" rel=\"noopener\">reported<\/a><\/span> that following the presentation of a drafted bill to place regulations on the usage of cryptocurrency, a list of approved cryptocurrency trading platforms is being developed by the Russian Ministry of Finance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Arseni Scheltsin, the director of Russia\u2019s Cryptocurrency and Blockchain Association, the proposals on creating and regulating a national cryptocurrency will be officially presented in July 2018, while a full-fledge launch would take a year after that.<\/p>\n","protected":false},"author":1,"featured_media":4509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[707,27],"class_list":["post-4508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptoruble","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"216","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/4508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=4508"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/4508\/revisions"}],"predecessor-version":[{"id":4510,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/4508\/revisions\/4510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/4509"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=4508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=4508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=4508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}