October 17, 2017
VLADIMIR Putin has given the green light for Russia to have it’s own cryptocurrency - dubbed the CryptoRuble.

Battle against Bitcoin: Russia launches own cryptocurrency dubbed the Cryptoruble

The move will propel Russia into the digital currency market and pit it against rival Bitcoin.
Officials said that once it is launched in a few weeks time, all other cryptocurrencies will be banned in the country.
Russia’s Communications Minister Nikolay Nikiforov said the Government also plans to fully regulate the Cryptoruble.
He told Russia Today: “I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbours in the Eurasian Economic Community will do it in a couple of months.
“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.”

Russian officials said the Cryptoruble will be taxed and the tax will be applied to any appreciation in value that occurs.
The new currency will use Russian designed encryption in a bid for it to remain traceable.

Battle against Bitcoin: Russia launches own cryptocurrency dubbed the Cryptoruble

And Mr Putin already has plans to make the currency international.
Russia's Deputy Minister of Economic Development Oleg Fomichev, said the national digital currency will be moved to international markets as there was no point that it remained within Russia.
He said: “This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy.”
The Russian president had recently been extremely critical of bitcoins - one of the most popular cryptocurrencies on the market.

Battle against Bitcoin: Russia launches own cryptocurrency dubbed the Cryptoruble

At a meeting with financial leaders in Sochi last week, he blasted it for being “risky and used for crime.”
He said: “The use of cryptocurrencies bears serious risks" citing money laundering, tax evasion and funding for terrorism.”
He then called for a “regulatory environment” to ensure that the digital currencies are used fairly.
Bitcoin, the most well-known virtual currency, emerged in mid-2010.
It last traded at around (£3649) $4,807, up from its initial price of less than $1.
Mr Putin's calls for more regulation sent the price of bitcoin soaring.
Business
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DUBLIN, March 18, 2024 /PRNewswire/ -- The "Vehicle to Grid (V2G) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering. World revenue for Vehicle-to-Grid (V2G) Market is forecast to surpass US$ 4.31 billion in 2024, with strong revenue growth through to 2034. Escalating Demand for Electricity, Coupled With a Global Commitment to Reduce Reliance on Fossil Fuels, Resulting in a Surge in the Adoption of Electric VehiclesThe vehicle-to-grid (V2G) market is witnessing unprecedented growth driven by a confluence of factors shaping the future of sustainable transportation and power management. Key drivers include the escalating demand for electricity, coupled with a global commitment to reduce reliance on fossil fuels, resulting in a surge in the adoption of electric vehicles (EVs). This market is characterized by opportunities that lie in the integration of renewable energy sources, such as solar and wind, to meet energy demands, while also addressing challenges associated with the variable nature of these sources.The primary driver for the V2G market is the escalating demand for electricity worldwide. Governments and industries are increasingly recognizing the need for sustainable and low-emission solutions, driving the widespread adoption of EVs. The electrification of the transportation sector not only addresses environmental concerns but also provides a unique opportunity for EVs to serve as mobile energy storage units. This bidirectional flow of power, where EVs can both draw and supply energy to the grid, is a key driver propelling the V2G market forward.Opportunities in the V2G market are abundant, particularly in the integration of renewable energy sources. As countries strive to meet ambitious renewable energy targets, V2G technology becomes an enabler for managing the intermittent nature of solar and wind power. This creates opportunities for smart grid solutions and advanced energy storage systems. Additionally, the idle times of parked EVs present an untapped opportunity for bidirectional ...Full story available on Benzinga.com
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