The Russian central bank acknowledges that cryptocurrency mining may contribute to the appreciation of the ruble.

According to Mars Finance, Elvira Nabiullina, Governor of the Central Bank of Russia, recently stated that cryptocurrency mining may be an additional factor supporting the ruble's exchange rate, but its specific impact is difficult to quantify because most of the industry remains in a gray area. Vice Presidential official Maxim Oreshkin previously pointed out that insufficient estimation of financial liquidity related to cryptocurrency mining could lead to inaccurate predictions of the ruble's exchange rate. Industry associations estimate that Russia is currently the world's second-largest cryptocurrency miner, accounting for over 16% of global computing power. Since November 1, 2024, Russia has implemented new regulations allowing legal entities and sole proprietorships registered in a special register to legally mine cryptocurrencies, while setting clear restrictions on energy consumption and income reporting.