Russia’s Plan To Launch Its Own Cryptocurrency, ‘CryptoRuble’

Andrei Barysevich, Director of Advanced Collection at Recorded Future commented below on Russia’s plan to launch its own cryptocurrency, ‘CryptoRuble’.

Andrei Barysevich, Director of Advanced Collection at Recorded Future:

“With the widespread introduction of supporting infrastructure only available to the government-backed cryptocurrency and swift oppressive regulations aimed at bitcoin and other blockchain currencies, the Russian government is frantically attempting to regain the control of the “runaway train” by introducing a legitimate alternative. However, Russian lawmakers seem to be missing the main point. Aside from criminals, the majority of the people purchase bitcoins, not because of convenience or anonymity, but rather the staggering profit levels it provides. The Russian Government is unlikely to see a widespread adoption of the CryptoRubles unless Moscow is able to convince people that the value of it will surge.”

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