The concept of NFT will be legalized.

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The concept of NFT may soon appear in the law. Such a
measure will protect the rights of holders of non–interchangeable tokens – NFT.

An NFT (non-fungible token) is a non-interchangeable
or unique digital accounting unit for a unique object. Such a token can be
assigned to an image, video, photo, song, tweet, or any digital object.

From a certain point on, digital recordings began to
represent a certain value, emphasizing the fact of ownership of certain
content. Therefore, the relevance of the legal regulation of NFT is
particularly important now. To date, the interests of NFT holders are not
protected by law in any way, as well as the field of digital assets is outside
of legislative regulation.

The lack of legal norms in this area caused a surge in
illegal schemes: fraudsters hacked accounts and wallets, signed other people’s
smart contracts on their behalf. Moreover, NFT, like any digital information,
is exposed to standard threats on the Internet: the sale of fake tokens or
phishing.

If the bill is adopted, the concept of NFT will be
mentioned in Article 1225 Part 4 of the Civil Code of the Russian Federation
“Protected results of intellectual activity and means of
individualization”.

Today, the issue of legalizing NFT in the Russian
Federation is already fundamentally on the table, now only the details of its
future regulation are being discussed.



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