Russian Central Bank Recognizes Bitcoin Mining’s Role in Supporting Ruble

The Central Bank of Russia has acknowledged that Bitcoin mining may contribute to strengthening the ruble’s exchange rate. Speaking at a recent meeting, Central Bank Chair Elvira Nabiullina said crypto mining has emerged as an additional factor supporting the national currency, though its full impact remains difficult to quantify.

She emphasized that mining activity is increasingly relevant to monetary policy discussions, particularly as Russia leverages energy resources for mining operations. While cautious in her assessment, Nabiullina’s comments mark a notable shift in tone from Russian authorities, signaling growing recognition of cryptocurrency mining as a macroeconomic variable rather than merely a speculative activity.

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