The Central Bank of Russia acknowledges the role of Bitcoin mining in ruble stability.
TL;DR
The Central Bank of Russia recognizes Bitcoin mining's role in ruble stability, with Governor Elvira Nabiullina noting its value inflows support the currency's exchange rate, marking a pragmatic shift from previous calls for a ban.
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According to Foresight News , citing Finance Feeds, the Central Bank of Russia has acknowledged the role of Bitcoin mining in ruble stability. Governor Elvira Nabiullina, in a recent interview with RBC, stated that the value inflows from mining have become a contributing factor to supporting the national currency's exchange rate. This acknowledgment marks a pragmatic shift for the institution, which has long advocated for a complete ban on cryptocurrencies. While precisely quantifying its impact remains difficult due to the industry's largely legal gray area, she explicitly considered mining a measurable macroeconomic variable.