The Central Bank of Russia has confirmed that Russia may relax regulations on cryptocurrencies.

According to Cryptopolitan, Odaily reported that last week, Russian Deputy Finance Minister Ivan Chebeskov stated that financial regulators were prepared to abandon a single regulatory definition that only allowed a small group of "highly qualified" investors access to 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 in the Ministry of Finance correctly pointed out that we are discussing the feasibility of using the term 'highly qualified' in the new cryptocurrency regulations." On Monday, in an interview, he explicitly stated that the Central Bank of Russia now believes it is "very likely" to relax regulations, 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 the current restrictions on Russian legal entities and individuals using conventional currencies for overseas payments."