The Central Bank of Russia has confirmed that Russia may relax cryptocurrency regulatory rules

According to market news, last week, Russian Deputy Finance Minister Ivan Chebeskov stated that financial regulators are prepared to abandon an exclusive regulatory definition that only allows a small number of "high-qualified" investors to access decentralized digital currencies such as Bitcoin and their derivatives.

Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, confirmed to reporters: "Indeed, our colleagues from the Ministry of Finance correctly pointed out that we are discussing the feasibility of using the term 'high-qualified' in the new cryptocurrency regulatory framework." On Monday, he explicitly stated in an interview that the Central Bank of Russia now considers it "very likely" to relax regulatory requirements, adding: "In addition to targeting this extremely narrow group of investors, the rules for the circulation of crypto assets should also be relaxed, especially considering that the current use of conventional currency for cross-border payments by Russian legal entities and individuals is restricted."