Russian Central Bank Governor Elvira Nabiullina has acknowledged that Bitcoin mining is contributing to the strengthening of the ruble and supporting the national economy. Despite previous calls for a ban, Nabiullina now endorses crypto mining, particularly in light of potential boosts from Bitcoin ETF approvals. She highlighted the difficulty in assessing the full impact due to illegal and semi-legal mining operations.
The shift in stance comes as Moscow encourages miners to operate in regions with surplus power, aligning with broader efforts to regulate the sector and prevent the financing of terrorism. This marks a significant policy change aimed at leveraging cryptocurrency mining to bolster economic stability.
Russian Central Bank Governor Sees Bitcoin Mining Bolstering Ruble
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