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The State Duma of the Russian Federation registered a bill on amendments to the Civil Code, fixing the concept of a non-interchangeable token (NFT).
The document amends the expansion of the list of protected results of intellectual activity in the form of NFT.
The latter are proposed to be designated as “a non-fungible token of a unique digital asset (images, videos or other digital content or asset) in the form of non-interchangeable data stored in a distributed registry system.”
The initiative is aimed at enshrining the concept of such tokens in the legislation and ensuring the protection of their owners, the explanatory note says:
“NFT is incorrectly classified as digital currencies, since they are digital certificates of ownership, that is, they are objects of intellectual property.”
The authors of the bill believe that its adoption will ensure the application of legislative norms in the field of intellectual property protection in relation to the NFT.
Earlier, the State Duma introduced a draft law on mining in the Russian Federation. Also, the Ministry of Finance is developing a document “On Digital Currency”, regulating the turnover and issuance of cryptocurrencies in the territory of the Russian Federation, the activities of exchanges and exchangers.
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