The Ministry of Economy proposed to bring the NFT market into a regulated legislative field. The department took the initiative to amend the Civil Code of the Russian Federation and federal laws to bring the NFT market under state control.
The proposal to amend the legislation on the circulation of NFTs (non-fungible tokens) in Russia was discussed at a meeting of the working group on regulatory regulation, Kommersant writes.
The idea was raised at the meeting that the laws in their current form do not allow a clear understanding of the issuance, circulation, circulation and regulation of CLS. To change the situation, it is proposed to amend, in particular, the Civil Code of the Russian Federation, the federal law “On Digital Financial Assets”.
The Ministry of Economy emphasized that at the moment the NFT market is not regulated by the state in any way. For this reason, cases of digital wallet fraud and hacking often occur, the department explained.
In May, a bill on the legislative definition of the concept of NFT technology was submitted to the State Duma. The authors of the initiative believe that this will protect authors and owners of virtual property from Internet fraud.
Author:
Kirill Bilyk
Source: RB
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