In a world that is fast moving with changing times, especially
in the last decade, numerous countries have joined the
technological advancement movement, Russia with the enactment of
their new law has also now embraced the cryptocurrency.
It was earlier in the year that discussion about the legal
understanding on the regulation of smart contracts and digital
tokens had begun, and it is seen that with good progress the
discussion had turned into a bill which has now been enacted.
The bill establishes that electronic rights are treated in the
same manner as other legal rights. This clarifies that digital laws
and rights will be regulated by civil law.
In regards of smart contracts, the automatic execution of smart
contracts will follow the same traditional procedure as that of
electronic payment which is used in banks, the new aspect is that
with each transaction requires data to be provided, such as
identity of the digital rights holder and other parties. This
