YEREVAN (CoinChapter.com) — The Russian Central Bank has denied claims that digital rubles will expire or disappear from wallets if not spent. Social media posts, especially on Instagram, suggest that the government could “burn” unused funds. Officials called these claims false and not backed by any law.
Alla Bakina, head of the national payment system department, addressed the issue on Pyerviy Canal’s program “Antifake.” She said,
“No, of course, these social media reports are fake. They do not correspond to reality, and none of what they claim is outlined in any law.”
Russian Central Bank Counters Digital Ruble Misinformation
The Central Bank reported a surge in anti-digital ruble content on social media. Many posts encourage people to reject the CBDC, warning that it will limit personal financial control.
Bakina stated that digital rubles belong to wallet holders, just like cash.
“Once funds reach a person, they become their property. The wallet holder has the right to use them whenever they choose.”
The Central Bank emphasized that the digital ruble does not have an expiration date. Officials explained that wallet holders control their funds, and there is no restriction on spending timeframes.
Bank Rejects ‘Forced Digital Ruble’ Claims
Several social media accounts claim the government will force citizens to adopt the digital ruble. The Central Bank denied this, stating that participation is voluntary.
“Opening a digital ruble wallet is a personal decision. No one is required to do so,” the bank stated. Officials also pointed out that many misleading claims are circulating on Instagram, a platform banned in Russia. The government has classified Meta as an “extremist” organization and restricted access to its services.
Refusal Letters Are Unnecessary, Says Bank
Some viral posts encourage users to send official refusal letters to banks or public service centers to avoid using the digital ruble. The Central Bank said this is unnecessary.
“There is no need to send any statements,” the bank clarified. “If someone does not want to use the digital ruble, they simply should not open a wallet.”
Officials also dismissed claims that multifunctional centers are involved in the CBDC rollout.
“These centers have nothing to do with digital ruble wallets,” said Bakina.
Full Rollout of Digital Ruble Continues
The Russian Central Bank began real-world testing of the digital ruble in August 2023. The government also plans a nationwide rollout before the end of 2025.
The Federal Treasury and the Finance Ministry are also testing digital rubles for budgetary payments. Despite the Central Bank’s explanations, skepticism remains. Many continue to question the impact of CBDCs on financial independence.