The State Duma of the Russian Federation has registered a draft law on amendments to the Civil Code, fixing the concept of a non-changeable coin (NFT).

The document introduces changes in terms of expanding the list of protected results of intellectual activity in the form of NFTs.

Second, it proposes to designate it as “an immutable token of a unique digital asset (images, videos, or other digital content or asset) in the form of immutable data stored in a distributed ledger system.”

The aim of the initiative is to introduce this type of token concept into legislation and ensure the protection of its holders, the explanatory note states:

“NFTs are incorrectly classified as digital currencies because they are certificates of digital property, i.e., objects of intellectual property.”

The authors of the bill believe that its adoption will ensure the enforcement of legal norms in the field of intellectual property protection in relation to NFTs.

Earlier, a draft law on mining in the Russian Federation was submitted to the State Duma. The Ministry of Finance is also developing a document “Digital Currency”, which regulates the circulation and issuance of cryptocurrencies in the Russian Federation, the activities of exchanges and exchanges.