Tomorrow, October 1, the Law on Digital Rights will enter into force. It enshrines the concept of digital law in the Civil Code of the Russian Federation and regulates the use of smart contracts. According to the Chairman of the State Duma Committee on State Building and Legislation Pavel Krashennikov, it is this law that is fundamental for regulating relations in the digital economy.

As reported on the website of the United Russia faction, the official is convinced that the new law will allow the introduction of new digital objects into the legal plane and will protect citizens.

“Digital technology has become a solid part of our lives. The market for such objects as “tokens”, “cryptocurrency” is developing on the Internet … The advent of new digital capabilities greatly simplifies our lives, but since these relations were not directly regulated by law, great risks were created, ”Krashennikov said.

According to a document adopted by the State Duma in March, digital rights are embedded in the system of civil rights and are classified as property.

Their owners are persons who, in accordance with the rules of the information system, have the opportunity to dispose of digital law, unless otherwise provided by law.

Nevertheless, the rules that information systems must comply with, as well as the types of digital rights and the particulars of their issue will be defined in other laws. Probably, it will be the law “On Digital Financial Assets”, the adoption of which has been repeatedly postponed .

The law prescribes the legalization of the collection and processing of arrays of anonymized information (Big Data), and also introduces the basis for recognizing the legal significance of smart contracts.

Previously, BlockchainJournal made a detailed analysis of the provisions of the law on digital rights.

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