diff --git a/mm2src/mm2_main/src/lp_wallet.rs b/mm2src/mm2_main/src/lp_wallet.rs
index 06e29ac7b9..da738211ec 100644
--- a/mm2src/mm2_main/src/lp_wallet.rs
+++ b/mm2src/mm2_main/src/lp_wallet.rs
@@ -232,12 +232,12 @@ async fn decrypt_validate_or_save_passphrase(
             Ok(Some(decrypted_passphrase))
         },
         None => {
-            if ctx.allow_registrations() { 
-              save_encrypted_passphrase(ctx, wallet_name, &encrypted_passphrase_data)
-               .await
-               .mm_err(|e| WalletInitError::WalletsStorageError(e.to_string()))?;
-            return Ok(Some(decrypted_passphrase));
-         }
+            if ctx.allow_registrations() {
+                save_encrypted_passphrase(ctx, wallet_name, &encrypted_passphrase_data)
+                    .await
+                    .mm_err(|e| WalletInitError::WalletsStorageError(e.to_string()))?;
+                return Ok(Some(decrypted_passphrase));
+            }
             // If no passphrase is found and registrations are not allowed, return an error
             Err(WalletInitError::WalletCreationNotAllowed.into())
         },