Deputies of the Russian state Duma adopted in the second reading amendments to the Civil code of the Russian Federation on the digital rights of the authors of the bill, led by speaker of the lower house Vyacheslav Volodin intended to consolidate the concept of “digital rights” and form the basis for the development of the digital economy.

“New technologies are actively introduced in the economic life in our country and abroad, but questions of legal protection remained unresolved. After the adoption of the law, citizens and legal entities will have additional safeguards to participate more actively in the development of the economy of the future”, – said the head of the authors team.

The amendments provide for the introduction of the civil code a new article – 141.1 “Digital rights”. This term refers to a special “obligatory and other rights, content and conditions of implementation of which shall be determined in accordance with the rules of the information system that meet the statutory criteria. The implementation of disposal, including transfer, mortgage, encumbrance of digital rights in other ways or restriction of use of digital right is only possible in the information system without resorting to third party”.

In addition, expression through electronic or other technical means, for example, through filling out electronic forms or sending SMS, it is assumed to equate to a simple written transaction, and the use of smart contracts is considered a condition for automatic execution of any civil contract.

However, according to the head of profile Committee on state construction and legislation Pavel Krasheninnikov, state of cryptocurrency from the bill was excluded, since “their introduction into civil circulation is premature, but given the technological progress may eventually become possible.”

Recall that a week ago Vladimir Putin instructed the state Duma and the Russian government until July 1 to enact laws aimed at the development of the digital economy, including the law on regulation of digital assets.

The draft law “On digital of financial assets” was submitted to the Duma on 20 March last year, but after the adoption of the document in the first reading of the concept of “digital money” and “digital currency” was replaced with “digital rights” and the terms “mining” and “cryptocurrency” are deleted.