-CryptoRuble proposed to Russian parliament
Russian President Vladimir Putin launched the foundation of a national digital currency, called CryptoRuble at a government meeting in October last year.
On Thursday, Jan. 25, the draft law introducing the CryptoRuble as an official payment instrument was submitted to the Russian parliament. The draft envisages that the cryptocurrency becomes a legal form of payment that can be distributed nationwide.
Russia, anxious to rid control of the global banking systems dominated by major U.S. and European financial institutions and central banks, wants to achieve some 'flexibility' in currency through the new cryptocurrency.
Financial activities involving the Russian cryptocurrency will be taxed at the rate of 13 percent applicable to any appreciation in value – or 13 percent of the total if the owner cannot disclose the source of the digital currency.
-Russian banks’ profits down 15 percent in 2017
The net profit of Russian banks decreased by 15 percent from 930 billion rubles in 2016 to 790 billion rubles (about $14.1 billion) in 2017, a statement by the Central Bank of Russia revealed
The statement also reported that the assets in the banking sector increased by 9 percent in 2017 and the loan amounts provided to the economy increased by 6.2 percent.