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The Ministry of Economy proposed to introduce regulation of NFT

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Representatives of the department, the Bank of Russia and the business community considered the issue of the legal status of non-fungible tokens, as well as their legal issue.

The relevant changes in legislation were discussed at the July 21 meeting of the working group on regulatory regulation in the ANO "Digital Economy". The meeting was held on the initiative of the Ministry of Economy with the participation of the Central Bank and the business community.

The agency proposed to establish the legal status of NFT, clarify the possibility of issuing such tokens in Russia, their regulation and circulation, as well as the protection of NFT purchasers from re-issuance and other issues. The Ministry of Economy proposes to amend the Civil Code of the Russian Federation and the law "On Digital Financial Assets", as well as the federal project "Normative Regulation of the digital environment" by the end of 2024.

For the first time, Anton Gorelkin, Deputy chairman of the State Duma Committee on Information Policy, Information Technologies and Communications, announced the need to regulate NFT in Russia in February. In his opinion, the largest NFT marketplaces should be included in the law "on landing" in order to legally operate in Russia and protect the rights of Russian NFT owners.

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