The state Duma adopted in the first reading the bill on the digital economy

The state Duma adopted in the first reading the bill on the digital economy

MOSCOW, may 22 — RIA Novosti. The state Duma plenary session on Tuesday adopted in the first reading a bill which proposes to introduce into the Civil code of the Russian Federation the concept of “digital law”, “digital money” and other definitions in the field of digital economy.

BTC 7932.35


ETH 641.50


LTC 126.88


BCH 1096.70


The document submitted by a group of deputies headed by speaker Vyacheslav Volodin, implements civil legislation the concept of “digital law”, which refers to the collection of electronic data (digital code designation) certifying the rights on things and other property, results of works, services and exclusive rights. The turnover of digital rights will be effected only through records in information system.

Under the definition of digital rights will be subject to the existing at the moment the term “token”. The bill also introduces the concept of “digital money” (in common parlance — cryptocurrency), it establishes the principle that the legal tender they are not.

To facilitate transactions with digital rights improving the rules of civil law on the form of transactions, including contracts.

The bill addressed the issue of the legalization of collecting and processing a large amount of impersonal information (“big data”, big data). To do this, the Civil code introduces the design contract for the provision of services to provide information and extends the database concept. According to the interests of the parties, the contract may provide for the duty not to take actions that result in the information may be disclosed to third parties.

The bill provides that a digital money is not obligatory to reception in all types of payments, for transfer on accounts, in contributions and for transfer in all territory of the Russian Federation. However, in the cases and under the conditions established by law, can be used by individuals and legal entities as means of payment.