Russia: State Duma Adopts Draft Law on Digital Rights and Digital Money

On March 12, 2019, the State Duma adopted, in its third reading, a draft law on amendments to Parts 1, 2 and 3 of the Civil Code establishing digital rights and determining digital money.

The draft law seeks to amend the Civil Code of Russia and establish digital rights, provide a definition of digital money and modify written forms of agreement recognising the intention of a person to conclude a written form of agreement on the internet.

According to the draft bill, "the holder of the digital right is a person who has a unique access to the digital code or a digital designation allowing to perform actions by order of the digital right".

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