Digital version of the document recognizing tokens as intellectual property will be presented at St. Petersburg International Economic Forum
The Roscongress Foundation announces that the world’s first NFT version of the bill will be sold at a charity auction on June 16, 2022 at the St. Petersburg International Economic Forum (SPIEF). The auction will be held at the Leningrad House of Trade as part of the “Creating the Future 2050” digital art competition.
At the event will be presented a bill on FTT, which deputies Anton Tkachev and Vladislav Davankov submitted to the State Duma on May 19.
Experts criticize the NFT token bill
The document defines an NFT token as “an Non-fungible token in the form of a unique digital asset (image, video or other digital content or asset) in the form of interchangeable data stored in a distributed registration system (blockchain system).”
“Thus, the law on intellectual property protection will apply to NFT tokens and protect their rights holders,” the explanatory note to the document says.
The need to regulate NFTs in Russia was first stated by Anton Gorelkin, deputy chairman of the State Duma Committee on Information Policy, Information Technology and Communications, in February. He argued that the largest NFT market should be included in the “landing” law in order to operate legally in Russia and protect the rights of Russian NFT owners.