The Russian Central Bank has acknowledged the role of Bitcoin mining in stabilizing the ruble, marking a significant shift in its stance on cryptocurrency. Governor Elvira Nabiullina stated that mining inflows are supporting the ruble's exchange rate, despite previous calls for a crypto ban. This recognition comes amid ongoing concerns about Countering the Financing of Terrorism and as Russia faces sanctions and liquidity challenges.
While legal uncertainties around cryptocurrency persist, the bank's new perspective highlights Bitcoin mining as a macroeconomic factor. This development occurs as the EU's Markets in Crypto-Assets Regulation could potentially influence future Russian policy on digital assets.
Russian Central Bank Recognizes Bitcoin Mining's Impact on Ruble Stability
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