Russia Central Bank Dismisses CBDC Biometrics Link

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By BitcoinWiki News

Key Takeaways:

– Russian Central Bank’s CBDC, the digital ruble, is not related to state efforts to collect biometric data.
– The pilot for the digital ruble started a month ago in 11 cities across Russia.
– The Russian government passed a law allowing the collection of biometric data, including facial scans and fingerprints.
– This led to the creation of the Unified Biometric System (UBS) as a national digital remote identification platform.
– Scammers have been targeting citizens by asking them to submit biometric data to convert their cash ruble savings to CBDC tokens.
– The Governor of the Russian Central Bank, Elvira Nabiullina, clarified that the digital ruble and biometrics projects are unrelated and voluntary.
– Over 50 million Russian citizens have voluntarily submitted their biometric data so far.

The Russian Central Bank has clarified that its digital ruble, the country’s central bank digital currency (CBDC), is not related to the government’s efforts to collect biometric data. The central bank began testing the digital ruble in 11 cities last month, while the government implemented a law allowing banks and state agencies to collect biometric data such as facial scans and fingerprints. However, the two projects have been mistakenly linked by some, leading to fraud attempts targeting individuals by scammers posing as digital ruble or biometrics-related entities. The central bank governor, Elvira Nabiullina, stated that the digital ruble and biometrics are separate projects with no mandatory connection. Submitting biometric data is voluntary for Russian citizens, but over 50 million people have already chosen to do so. Less than 1% of individuals have refused to submit their biometric data.

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