The State Duma will consider a bill on the protection of intellectual property of NFT owners

Deputies of the New People faction submitted a draft to the State Duma that introduces the concept of non-fungible tokens into Russian legislation.

Vladislav Davankov and Anton Tkachev formalized the project with amendments to the Civil Code, informs the information agency TASS. Parliamentarians propose to consolidate the concept of “NFT-token” as “a non-fungible token of a unique digital asset (images, videos or other digital content or asset) in the form of non-fungible data stored in a distributed registry system (blockchain system)”.

“NFT tokens are incorrectly classified as digital currencies, since they are digital certificates of ownership, that is, objects of intellectual property, as they are the result of human intellectual activity,” the explanatory note to the bill says.

According to the deputies of the New People faction, the adoption of the relevant amendments to the Civil Code of the Russian Federation will improve the legislation in the field of intellectual property protection, will apply to legal relations with NFT tokens, and will also protect their right holders.

Earlier, Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technologies and Communications, proposed “landing in Russia” the largest NFT marketplaces, forcing them to open a legal entity in the Russian Federation. According to Gorelkin, this is the only way the state will be able to protect the rights of Russian NFT owners in disputable situations.