In the state Duma a draft law to regulate legal relations between the owners of the cryptocurrency

In the state Duma introduced a bill designed to regulate the market available in the information-telecommunication networks of new objects of economic relations (tokens and cryptocurrencies) and provide legal conditions for the execution of transactions in the digital environment under the Civil code.

The bill also establishes the possibility of judicial protection of citizens and organizations that are owners of these assets.

«In particular, will be ensured judicial protection of rights arising in relations over these objects, including protection of their owners from abuse, – stated in the explanatory note to the bill. – Entry in Ledger of the relevant amendments will allow to avoid the use of tokens and cryptocurrencies for the withdrawal of assets in an unregulated environment and the disposal of the foreclosure, including in bankruptcy, in order of legalization of the incomes received by a criminal way, and terrorism financing».

The authors of the bill – the Chairman of the state Duma Vyacheslav Volodin and the Chairman of the Duma Committee on state construction and legislation Pavel Krasheninnikov – I propose to amend the civil code of the concept of «digital law» and «digital money» that will create a legal basis for the system of taxation of cryptocurrencies and mining.

So, under the digital-right should mean the right to objects of civil rights, with the exception of intangible benefits as determined by the totality of electronic data (digital code or symbol) that exist in the information system that meet the statutory characteristics of a decentralized information system.

Under the digital preobladali is a person with unique access to the numeric code or designation. The digital right may be alienated or transferred from one person to another under the same conditions (article 129 of the civil code) that the objects of civil rights, the rights to which they certify.

Digital money the authors of the bill propose to call the aggregate of electronic data (digital code, or designation) of not certifying any object of civil rights.

The bill emphasizes that digital money is not necessarily used as a means of payment, «however, in the cases and under the conditions established by law, they can be used by individuals and legal entities as a means of payment».

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