Russia’s State Duma has voted to initiate digital rights legislation to help determine rules for how to engage with one’s digital rights, including digital transactions, transfers of digital assets, including digital contracts.
State Duma Chairman Vyacheslav Volodin, stated in a press release that the new “digital rights” legislation “forms the basis for the development of the digital economy.”
Aleksandr Zhuravlev, a senior managing partner of a law firm in Moscow told Forklog, a crypto news media firm, that although not foolproof, Russia’s new digital rights laws are aimed to help improve their economy versus legislation in other countries like India and China, where they have banned Bitcoin all together.
Russia’s parliament, the State Duma has made efforts to create optimal rules in handling civil property rights, more recently as they are related to digital assets and cryptocurrency, with Putin interested in enacting these new crypto laws by the end of March.
Previously Vladimir Putin stated that he wanted to have crypto legislation running by July, and appears to be interested in working within a new digital rights framework that includes civic digital rights and digital assets.
Author: Adam Sarwar