A lot of Russia-related headlines made waves in the cryptocurrency ecosystem during the last hours after rumors that the largest country in the world is in the process of issuing a state crypto coin, called "CryptoRubble." But is it true?
An article by CoinTelegraph raises the issue as a sure thing, but in reality, nobody can be sure.
The groundbreaking news appears to come from the Russian Minister of Communications, Nikolay Nikiforov. The Minister is quoted saying that President Vladimir Putin officially stated that Russia would issue its own cryptocurrency "CryptoRubble."
The article goes on with details such as the new coin will not be mined, but it will be controlled and regulated by the Russian state. It even suggests that the coin holders will be able to exchange them with Rubles whenever they like, with tax applied only when the owner cannot explain the origin of the owned CryptoRubbles.
But there is a contradiction; the Russian President appears to make an official statement, but this happened at a closed-door meeting in Moscow. Now, do you know any formal declarations done behind closed doors? Sure you don't because closed-door meetings are never the place where official statements appear.
Despite this, the news piece might have truth in it. After all, it is Russia where contradictory cryptocurrency news is not uncommon. During the last trimester, we saw a series of headlines ranging from pro-crypto Russian ministers to Putin allegedly calling for the complete ban of cryptocurrencies.