On April 16,2025, a new version of the bill was introduced to the State Duma that may give non-qualified investors access to digital certificates issued in respect of digital financial assets (DFAs).

This is an important step towards removing infrastructural restrictions and bolstering the liquidity of digital assets.

The Capital Markets and Bank Financing Practice team consisting of Partner Aleksandr Kuznetsov and Associate Vasilisa Lopatina prepared an alert providing a detailed analysis of the essence of these legislative amendments and the impact they may have on the market.