The Ministry of Economic Development has introduced legislative amendments to regulate the NFT.
Aug, 03 2022
The Ministry is going to amend the law to regulate the NFT (immutable token) in the regulatory process.
At the moment, the current legislation does not contain the possibility of issuing NFT, regulation, turnover and protection of token buyers, as well as their attitude to intellectual property rights.
It was proposed to issue amendments to the Civil Code and the law on “Digital Financial Assets”. So far, legal uncertainty has a negative impact on the development of this area. The issue is under the jurisdiction of the Ministry of Finance and the Bank of Russia. At the moment, issues related to legal regulation are not being worked out.
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