The Ministry of Economic Development has introduced legislative amendments to regulate the NFT.

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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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