Wednesday October 21, 2020

A cryptic move from Russia

Russia’s plan to roll out a government backed crypto-currency has been met with scepticism from several quarters. Emmet Ryan on the curious case of the crypto-rouble

Emmet Ryan

Technology Correspondent

@emmetjryan
20th October, 2017
Russian president Vladimir Putin has previously been hostile to crypto-currencies such as Bitcoin. Pic: Getty

The plan by the Russian government to enter the crypto-currency market with its own crypto-rouble is the clearest sign to date of any state’s efforts to enter the market made famous by Bitcoin.

The nature of crypto-currencies, however, makes the move by Russia more than a tad eyebrow-raising. The anonymity and lack of traceability normally associated with such currencies goes pretty much against what the Kremlin is aiming for with the crypto-rouble....

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