Russian Central Bank Governor: Digital ruble will be used to strengthen government oversight of fund flows

Odaily Planet Daily News: The Governor of the Russian Central Bank, Elvira Nabiullina, stated that the launch of the digital ruble is indeed aimed at strengthening the country’s oversight of fund circulation, especially in scenarios such as government contract expenditures to improve transparency and automate review efficiency. She emphasized that the digital ruble is not used to monitor individuals’ daily payment behaviors, and the claim that “the government wants to control personal payments” is a misunderstanding.

Nabiullina pointed out that from a transparency perspective, residents using the digital ruble are essentially no different from current cashless ruble transactions, but as a third form of national currency, the digital ruble will help reduce manual review processes and achieve partial regulatory automation. She also reiterated that the Russian central bank will not force citizens to open digital ruble accounts or require the use of digital rubles; in the future, it will promote voluntary adoption through publicity of its convenience and by opening experiences starting in September. (bits.media)