Bitcoin mining ‘may be strengthening the ruble,’ says Russian central bank

The rapid rise of Russia’s Bitcoin mining industry is bolstering the country’s economy and may be strengthening the ruble. So says Elvira Nabiullina, the governor of the Russian central bank, although she conceded that “quantifying the impact” of crypto mining is difficult, as illegal and quasi-legal miners make up a “significant portion of the industry.” “It is probably difficult to quantify the impact of crypto mining right now, because a significant portion of it remains in the gray zone,” Nabiullina ...