The government has approved a draft bill to change the Currency Act, the Council of Ministers press office said. Under the bill, dealers in precious metals and gemstones will no longer have to wait 14 days after registering before they start work.

The changes apply to people who mine, process and trade in precious metals, gemstones and items made with or from them as a business. The bill sets out exactly what goes into the public register of these dealers. The aim is to cut red tape for them.

Deadlines will also be shorter. Officials will review an applicant's documents, and tell them about missing or incorrect details, within 5 working days instead of 7. A service under the Act on the Administrative Regulation of Economic Activities Related to Oil and Petroleum Products will take 5 working days instead of 10.

The press office said the government wants to improve how these activities are regulated and make administrative services more efficient.