The Bank of Russia is working on a new cryptocurrency regulation plan that will relax investor qualifications

According to Bloomberg, the Russian central bank is drafting a new cryptocurrency regulation plan that may allow previously ineligible investors to purchase crypto assets.

Previously, Ivan Chebeskov, the Deputy Minister of Finance of Russia, revealed that the Ministry of Finance and the central bank are planning to lift the strict regulations that currently limit participation in the cryptocurrency market to "high-qualified" investors, and intend to establish a tiered access mechanism to expand the range 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 in the past year to obtain "high-qualified" certification.