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RE: Russia To Launch Their Own National Cryptocurrency & Allow Bitcoin Trading Again 🇷🇺
I think Russia is just very skeptical towards bitcoin still. Like mentioned above, they actually had very strict laws against it.
By building their own digital currency, they can have the benefits, but still make their own rules and monitor and regulate the currency however they like.
And since the currency will be issued by russia's central bank, it's not really a decentralized cryptocurrency anymore.
Thanks for the reply. It seems like it's just a way for them to stay in control as they see how we are heading towards an economy that primarily uses cryptocurrencies. However, I do wonder if they will be able to "print" cryptocurrency to bail themselves out of debts like many countries do with cash. I imagine this currency won't be mineable, as the central bank is regulating it, so they can probably do whatever they want. Kind've scary! I guess we just have to wait and see.