The Russian Bank is working on a new encryption regulatory plan that will relax investor qualifications.

On December 23, according to Bloomberg, the Bank of Russia is drafting a new regulatory scheme for Crypto Assets, which may allow previously unqualified investors to purchase Crypto Assets. On November 26, Ivan Chebeskov, Deputy Minister of Finance of Russia, revealed that the Ministry of Finance and the Central Bank are planning to abolish the current strict regulations that only allow “high-qualified” investors to participate in the Crypto Assets market, and are proposing to establish a tiered access mechanism to expand the scope of legitimate investors. Current regulations require individual investors to hold at least 100 million rubles in bank deposits and securities, and to have verifiable income exceeding 50 million rubles over the past year to obtain “high-qualified” verification.