Russia’s Ministry of Finance has reduced the proposed fines both individual and institutional bitcoin users would potentially face for creating, issuing or promoting digital currencies under a draft bill that seeks to outlaw the use of so-called "money surrogates" like bitcoin.

The updated bill decreases penalties for individuals, who under the latest version would only incur a maximum 50,000 ruble fine (roughly $1,050), down from 60,000 rubles ($1,314) in the previous iteration.

Under the new terms, individuals who disseminate money substitutes directly could be fined 20,000–40,000 rubles (about $431–$862), down from 30,000–50,000 rubles ($646–$1,078) in the original proposal. Further, those who disseminate information about money substitutes face fines of 5,000–30,000 rubles ($107–$646), reduced from 5,000–50,000 rubles ($$107–$1,078)).

Speaking to CoinDesk, Artem Tolkachev, managing partner at the law firm Tolkachev & Partners, suggested that he believes this could be an early signal that the proposed law will not be as strict as some had feared.

Tolkachev noted that the latest revisions come despite the fact that lawmakers have yet to take into account public input on the bill, saying:

“None of arguments expressed in public discussion has been taken into account by the lawmakers. That is why we cannot see any positive changes in attitude of the Ministry of Finance toward bitcoin and other digital currencies.”

Still, he cautioned that any optimism must be tempered as “the conceptual framework of the bill has remained the same”.