Russian President Vladimir Putin ordered a state-issued digital currency called CryptoRuble. According to Russian media AIF, a closed meeting between Putin and the political elite in Moscow at Capital Club has led Putin to make a big decision that Russia will issue its own digital currency, called CryptoRuble. Minister of Communications and Communications Nikolai Nikiforov revealed the details of the meeting. A senior government official also claimed that the Russian currency would be developed and issued quickly by the Russian state. While the details of the technology used in this digital currency are still few, Nikiforov added that the Russian digital currency can not be mined.

The minister said in a statement:

"I know with confidence that we will launch the digital CryptoRuble for one simple reason, that if we do not, our Eurasian neighbors Europe and Asia will do so within two months.

The digital CryptoRuble coin will be the legal tender in the Russian Federation, and we will also see some certified individuals incur personal income tax. If the owner is unable to declare the source of the CryptoRuble he owns, a 13% fixed tax will be charged when converting the digital currency into the Russian ruble currency. Similarly, a 13% tax will also be automatically levied on currency differentials acquired from transactions involving the purchase and sale of digital CryptoRuble currency. Nikiforov explained that these details have not yet been discussed. "The currency will probably be a closed model with a certain volume of trading volume

The minister added that the establishment of the country's digital currency should not be viewed as a support or as an effort to legitimize decentralized digital currencies such as the Pitcairn. According to the CCN in April 2016, the first public comment on the Russian national digital currency in which Olga Skurobugatov, Vice President of the Russian Central Bank, showed hints of a "mixed network" of public and private protocols leading to a unified digital currency National. The Russian Central Bank has tested a number of digital currency experiments with the aim of developing
National currency. A week ago, the first deputy governor of the Russian central bank unveiled the government's intention to block all stock exchange and exchange platforms offering digital currency such as Betquin. Russian President Vladimir Putin also spoke on the same day about the "real risks" that could result from digital currencies, while recognizing their growth in "becoming or already becoming a full way of payment as well as a means of investing" in the countries of the world.