- Elvira Nabiullina said bitcoin mining may be an additional factor supporting the ruble.
- She cautioned the impact is hard to quantify because mining often sits outside reporting channels.
- Russia legalized bitcoin mining in August 2024 after years of gray-market operations.
Russia’s central bank governor Elvira Nabiullina said bitcoin mining may be providing incremental support to the ruble, an unusual acknowledgment from a policymaker who has historically treated digital assets as a financial risk.
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