Russia’s CBDC Digital Ruble Won’t Expire or Be Forced on Users, Bank of Russia Confirms

• Russia is increasingly leaning on crypto and blockchain amid global sanctions and economic woes.
• At least 15 Russian banks are testing the digital ruble CBDC.
• The U.S. has outright banned the development, creation, and issuance of CBDCs under Donald Trump.

Russia’s ongoing efforts to create and issue a central bank digital currency (CBDC) have been met with criticism over fears that ownership would be mandated by law or that the tokens would have an expiry date.

In response, the Bank of Russia has sought to reassure the public, clarifying how the digital ruble will work.

Digital Ruble Worries

Fears over the digital ruble have fueled calls to abandon the project, with speculation spreading that the Russian government could mandate its use or even “burn” unspent funds after a certain period.

Addressing these concerns in a Feb. 17, 2025, interview with local media, Alla Bakina, director of the National Payment System Department at the Bank of Russia, dismissed such claims as “fake.”

She explained that the funds in the account always belong to the account owner, who can leverage the CBCDC as they see fit.

“Just as the Central Bank issues cash, as soon as it gets to a person, it is his property, and, of course, it has no statute of limitations, and a person has the right to spend this bank when he deems it necessary,” Bakina added.

CBDC Pilot

Having recently completed private trials, Russia is preparing to enter the next phase of the CBDC, which would be a full-scale pilot, perhaps in the region of Chuvashia.

At present, over a dozen of Russia’s major banking institutions, including Alfa-Bank, Sber, VTB, and T-Bank, amongst others, are involved in the testing.

The move comes at a critical time, as Russia seeks alternative financial avenues in the wake of Western sanctions.

Recently, the country authorized Bitcoin and cryptocurrency mining and has expressed interest in using crypto for international trade, all in a bid to circumvent financial restrictions.