Russia plans to make its own national cryptocurrency

Russia plans to make its own national cryptocurrency

Russia is making its own blockchain currency. The chairwoman of the Russian Central Bank announced regulators now agree national cryptocurrencies are the future.  “After our pilot projects we will understand what system we could use in our case for our national currency," chairwoman Olga Skorobogatova told the crowd at the St. Petersburg International Economic Forum. However, it’s still unclear how Russian cryptocurrency would live alongside global blockchain tokens like bitcoin and ether, IBT reports.

Over the past few months, Russia has moved to legalize and regulate cryptocurrency trading. Skorobogatova previously said an outright ban on bitcoin and currencies of its ilk would be infeasible. Unconfirmed reports from Russian news aggregators claimed on Friday that Herman Gref, the CEO of Russia’s Sberbank, will help develop a “Russian Bitcoin,” to serve as “the only cryptocurrency freely available [cryptocurrency] for sale and purchase.”

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