Millionaire Vladimir Zhuravlev: “The draft law on NFT is good for the plan, But the implementation is lame " – Bits Media

Creator of NFT games Waves Ducks with a turnover in $26 Milln is concerned, that the adoption of the law, submitted by the deputies to the State Duma, can lead to legal uncertainty.

GameFi developer Vladimir Zhuravlev, in the top 30 Russian Forbes, stated, what The bill on the introduction of the concept of non -replaceable token into Russian legislation is difficult to implement in the realities of the Russian legal system.

“The law is designed to provide protection in transactions with NFT. for instance, so that black and white are described signs, Properties and nature of the asset. Such norms are needed, to protect the participants in turnover, eg, In court. For the case, When you were deceived during the transaction, you handed over some token, but you were not transferred to you, or the site hacked and hackers all kidnapped. If the law is of high quality, then in transactions with an asset and in the courts there will be predictability and certainty ", - believes Zhuravlev.

The developer drew attention, that the law on crowdfunding is already applying in Russia. That is, it is possible to create NFT (Utility rights) and their distribution. The provisions of the Civil Code of the Russian Federation on digital rights are working (Art. 128 and 141.1) and objects of intellectual property. The new draft law does not take into account, that in the legislation of the Russian Federation it is impossible to apply unfamiliar terminology, Otherwise, the document will not comply with other standards, So there will be legal uncertainty.

"For example, The term token in Russian legislation is not present, The term was used “Digital law”, which personifies any cryptoactive ", - drew attention to Zhuravlev.

The businessman added, that the bill does not regulate transactions, in which NFT can be a digital copy of the physical object.

It's about the bill, which was introduced last week to the State Duma deputies of the New People faction. The project introduces into Russian legislation the concept of incorrect tokens. Parliamentarians propose to fix the concept of “nft-token” as “an unexplored token unique digital asset (images, video or other digital content or asset) In the form of non -replaceable data, stored in the distributed register system (blockchain system)».