Russia Gears Up to Regulate NFTs Through Legislative Amendments

Russia Gears Up to Regulate NFTs Through Legislative Amendments


Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country’s market for non-fungible tokens, or NFTs. A working group has discussed the matter and proposed solutions to legally define and regulate transactions with the digital collectibles.

Economy Ministry Takes Initiative to Regulate NFTs in Russia

The Ministry of Economic Development in Moscow is planning to put forward several amendments to the Civil Code and the law “On Digital Financial Assets,” to regulate the NFT market in the Russian Federation. The news comes from a meeting of a special working group held on the initiative of the ministry.

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During the discussions, the participants provided legal definitions for the digital collectibles and drafted the necessary legislative changes,

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