The State Duma in Russia is weighing a law that would limit digital currency purchases by non-accredited investors as it seeks to enhance investor protection.
The reports note that some lawmakers in the country are considering revising some aspects of the payments ban including allowing digital currencies to be used as payment in domestic contracts.
The State Duma adopted a new bill that seeks to dig into aspiring public officials’ digital currency holdings in its first reading. The bill still has to go through two readings before proceeding to the upper house.
The State Duma is reportedly seeking to abandon criminal liability for digital currency users—for now.
A Russian ministry has stood up for the digital currency industry against a proposed blanket ban. It urged the gov’t to consider regulating instead of banning.
The federal assembly had proposed the lifting of the ban for distribution of COVID-19 info in Russia, but another ministry is opposing it.