Russia have announced that they intend to issue their own Cryptocurrency known as, ‘CryptoRuble.’

There had been previous reports and speculation of Russia looking into creating their own Cryptocurrency. It was reported in June that Vladimir Putin had met with Vitalik Buterin, the founder of Ethereum.

We do not know exactly how CryptoRuble will work but it has been reported that it cannot be mined, unlike Bitcoin and many other cryptocurrencies. It is also likely that CryptoRuble will be traced and tracked, something that many leading Cryptocurrencies are against. It does appear however that CryptoRuble will have its own blockchain.

Whilst we do not know exactly how successful this new Crypto will be, it shows that governments are now taking Crypto’s seriously and trying to be involved themselves, at least with blockchain teachnology.

We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.