Russia: Cryptoruble or cyber-ruble?
Russia's deputy finance minister spoke again on cryptorubes and cryptocurrencies. Alexey Moiseev finds the term "cyber-ruble" more appropriate than the name "cryptoruble". He expects a price correction of the Bitcoin price and also hopes that interest in the cryptocurrency will wane. Meanwhile, a first proposal for the Kryptorubel was submitted.
Russian President Vladimir Putin ordered new guidelines for cryptocurrencies last month. Among other things, Russia is to receive its own cryptocurrency, the cryptorubule. Since last month's announcement, it has been debated whether the currency is a cryptocurrency or not.
On Thursday, Tass reported that the Deputy Minister of Finance (Alexey Moiseev) finds the term Kryptorubel inappropriate and the name "cyber-ruble" is more appropriate because it "is the development of an electronic ruble." He said:
"I think when you talk about cryptorubbing, you get mixed up. It is more common to call him cyber-ruble. "
According to the BFM, the co-founder of the investment company Exante, Anatoly Knyazev, also commented on the subject. He confessed that there is a little difference between the terms. He pointed to the political entanglements of the word "crypto". He explained:
"Cyber-ruble probably has less negative connotations (...). That's probably the reason for the new name. "
The first proposal for the Cryptorubel has already been submitted to the Ministry of Communications and Mass Media. Minister Nikolai Nikiforov said that the Ministry has prepared a government decree containing the technological processes of cryptorubility.
"These are technical proposals," said Nikiforov, according to Interface. "Government decisions to introduce cryptocurrency are not enough. Also legislative changes will be necessary. We have a proposal that includes certain rules on how technology could lawfully be implemented in the territory of Russia, "he said.
Qiwi Group CEO Sergei Solonin was present during the meeting between Putin and his advisers when the decision was taken to settle the cryptorublosis. He said that the cryptorubel must be able to keep up with the cash. If this is not the case, he sees no advantage over other electronic currencies.
Moiseev is also said to have said on Wednesday that he expects a "big correction" of the Bitcoin price. "Of course, I think that these investments are becoming riskier," he estimates the situation. "As the price has already risen to more than $ 7,000, I expect a large correction to the course and people will lose a lot of money invested in Bitcoin. Maybe I'm wrong."
He also added:
"I hope the interest in simple cryptocurrencies goes back. Simply in the sense that they are spread for their distribution alone. Bitcoin is a classic example of that. "
Cyber ruble or cryptoruble?
Russian President Vladimir Putin ordered new guidelines for cryptocurrencies last month. Among other things, Russia is to receive its own cryptocurrency, the cryptorubule. Since last month's announcement, it has been debated whether the currency is a cryptocurrency or not.
On Thursday, Tass reported that the Deputy Minister of Finance (Alexey Moiseev) finds the term Kryptorubel inappropriate and the name "cyber-ruble" is more appropriate because it "is the development of an electronic ruble." He said:
"I think when you talk about cryptorubbing, you get mixed up. It is more common to call him cyber-ruble. "
According to the BFM, the co-founder of the investment company Exante, Anatoly Knyazev, also commented on the subject. He confessed that there is a little difference between the terms. He pointed to the political entanglements of the word "crypto". He explained:
"Cyber-ruble probably has less negative connotations (...). That's probably the reason for the new name. "
The first proposal for the Cryptoruble
The first proposal for the Cryptorubel has already been submitted to the Ministry of Communications and Mass Media. Minister Nikolai Nikiforov said that the Ministry has prepared a government decree containing the technological processes of cryptorubility.
"These are technical proposals," said Nikiforov, according to Interface. "Government decisions to introduce cryptocurrency are not enough. Also legislative changes will be necessary. We have a proposal that includes certain rules on how technology could lawfully be implemented in the territory of Russia, "he said.
Qiwi Group CEO Sergei Solonin was present during the meeting between Putin and his advisers when the decision was taken to settle the cryptorublosis. He said that the cryptorubel must be able to keep up with the cash. If this is not the case, he sees no advantage over other electronic currencies.
Moiseev expects price correction and hopes for falling interest
Moiseev is also said to have said on Wednesday that he expects a "big correction" of the Bitcoin price. "Of course, I think that these investments are becoming riskier," he estimates the situation. "As the price has already risen to more than $ 7,000, I expect a large correction to the course and people will lose a lot of money invested in Bitcoin. Maybe I'm wrong."
He also added:
"I hope the interest in simple cryptocurrencies goes back. Simply in the sense that they are spread for their distribution alone. Bitcoin is a classic example of that. "
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