Russian Central Bank Acknowledges Bitcoin Mining's Role in Ruble Stability

Based on Chainthink, on December 23, the Russian Central Bank acknowledged the role of Bitcoin mining in stabilizing the ruble, marking a shift from its previous stance. Governor Elvira Nabiullina stated in an interview with RBC Media that value inflows from mining have become a supporting factor for the national currency's exchange rate. This admission reflects a pragmatic turn by the institution, which had long advocated a full ban on cryptocurrencies. Nabiullina noted that while the industry remains largely in a legal gray area, making it difficult to quantify its impact, she views mining as a tangible macroeconomic variable. This development follows a period of extreme economic pressure, during which the country sought alternative financial channels to circumvent international sanctions and manage liquidity.