TechFlow news, on December 22, Russian Central Bank Governor Elvira Nabiullina recently stated that cryptocurrency mining could be an additional factor supporting the ruble exchange rate, but its specific impact is difficult to quantify due to much of the industry still operating in the gray area. Deputy Head of the Presidential Administration Maxim Oreshkin previously pointed out that underestimating financial liquidity related to cryptocurrency mining could lead to inaccurate forecasts of the ruble exchange rate. According to estimates from an industry association, Russia is currently the world's second-largest cryptocurrency mining country, accounting for over 16% of global computing power. Since November 1, 2024, Russia has implemented new regulations allowing legal cryptocurrency mining by corporate entities and individual entrepreneurs registered in a special registry, while setting clear limits on energy consumption and income reporting.
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