TechFlow news, December 22 — According to Dlnews, Elvira Nabiullina, head of the Russian Central Bank, said that the rapid development of Bitcoin mining in Russia is promoting the country's economy and could strengthen the ruble exchange rate. Nabiullina acknowledged it is "very difficult" to quantify the impact of cryptocurrency mining because "a significant part of the industry" consists of illegal and semi-legal miners. She stated, "Mining is indeed one of the additional factors contributing to the strong ruble exchange rate."
Previously, the Russian Central Bank had opposed cryptocurrencies, and Nabiullina had called for bans on mining and cryptocurrency exchanges. However, in recent years Moscow has warmed to crypto mining, encouraging miners to set up operations in regions with surplus electricity capacity.
