Kazakhstan & Russia To Launch Cryptocurrencies – October 18th Cryptocurrency News
Kazakhstan hopes to launch its own fiat-backed digital currency. Astana international financial centre and EXANTE investment company have agreed on the development and promotion of the crypto-assets market in country. According to the memorandum of understanding, EXANTE will use its experience with successful blockchain projects to help the AIFC to develop the cryptocurrency market and support the evolution of the FinTech-ecosystem. In a press release, the governor of the Astana International Finance Center said that ”Blockchain and cryptocurrencies are entering the mainstream of today’s economic reality”.
An article in Russia Today yesterday confirmed that Vladimir Putin gave the go ahead for a national cryptocurrency. The cryptoruble will be issued by the state, controlled by the state and enabled to provide circulation of digital money in light of the digital economy. Communications Minister Nikolay Nikiforov said “I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbors in the Eurasian Economic Community will do it in a couple of months”. He added that, “when buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total. Also hitting headlines today is Russia Sberbank as it has become a member of the non-commercial alliance Enterprise Ethereum Alliance. It is the first Russian bank to join this alliance.
Let’s take a very quick look at some of the top performing cryptocurrencies by market cap. NEO is the only one in the top ten that experienced gains over the past 24 hours. Bitcoin fell more than 7%, Ethereum more than 8%. Bitcoin reached as high as ,800 yesterday and then today we saw it fall well below ,400. Ethereum continues to fall this week and it is currently around 0. Ripple lost almost 11% over the past 24 hours.