Currently, legal regulations of blockchain technologies comply with the Russian
legislation and are governed by the following statutory acts:
- Civil Code of the Russian Federation
-
Federal law No. 259-FZ “On digital financial assets, digital currency and on
amendments to certain acts of the Russian Federation” dated 31.07.2020
The AVOCADO NFT project is expecting to use the two blockchain tools as created
non-fungible tokens and the mutually borrowed service token AVO
These tools are interpreted within the internal corporate documents and public
agreements.
AVO is a digital non-fiscal asset, representing a non-unique set of electronic data
within the AVOCADO NFT information system, which can particularly be accepted as a means
of exchange for other digital non-fiscal assets, as well as investments, which result in
the AVOCADO NFT project owing to each AVO holder of the other digital non-fiscal assets.
“Digital financial assets reflect digital rights, including monetary claims, ability to
exercise emission securities, the right to participate in the capital of a non-public
joint-stock company, the right to demand the transfer of emission securities, provided
based on the decision to have issue digital financial assets in the manner established
by this Federal law, issuing accounting and circulation of which is only possible by
making (changing) entries in an information system within a distributed registry, as
well as those made in the other information systems. (see Part 2 Article 1 of the
Federal Law No. 259-FZ “On financial assets of digital currency and on the alteration of
certain legislative acts of the Russian Federation dated 31.07.2020)”
“Digital currency reflects cumulative electronic data (i.e., digital code or
designation) within the information system, which are expected, and (or) might be
accepted as a means of payment other than the currency of the Russian Federation, the
foreign monetary unit and (or) international currency or chargeable unit, and (or) as an
investment, requiring no person to owe to each owner of such electronic data, excluding
their operator and (or) information systems components, obliged to comply with the issue
procedure for these electronic data and arrange entries (changes) in such information
system subject to its rules (see Part 3 Article 1 of the Federal Law No. 259-FZ “On
financial assets of digital currency and on the alteration of certain legislative acts
of the Russian Federation dated 31.07.2020)”
Thus, we can clearly see that the blockchain tools of the AVOCADO NFT project do not
fall under the legal regulation of the Federal Law No. 259-FZ “On financial assets of
digital currency and on the alteration of certain legislative acts of the Russian
Federation dated 31.02.2020 N 259-FZ.
The legal status of AVOCADO NFT PJSC as a marketplace operator in relation to its
counterparties is determined by internal corporate documents and public agreements
subject to Part 1 of Art. 1253.1 of the Civil Code of the Russian Federation as a person
transmitting material in an information and telecommunications network, including the
Internet, a person enabling to post material or information necessary to obtain via
information and telecommunications networks, a person providing access to the material
within this network, the information intermediary, who is held liable for the violated
intellectual property rights within the information and telecommunications network on
the general basis subject to the Civil Code of the Russian Federation, where at fault
and by reference to specific features, listed in the paragraphs 2 and 3 of Article
1253.1 of the Civil Code of the Russian Federation. Thus, PJSC AVOCADO NFT, is not
liable for the violated intellectual rights during the material transfer in the
information and telecommunication network, which resulted from such transfer and subject
to the following conditions:
-
it does not initiate this transfer and fails to determine the recipient of the
specified material;
-
it does not change the specified material when rendering communication services,
excluding the changes, ensuring technological process of material transfer;
-
it did not know and should not have known, that the use of these IP assets or means
of identification by a person, who initiated the material transfer, containing the
relevant IP assets or means of identification is deemed illegal.
PJSC "AVOCADO NFT", which enables material posting in the information and
telecommunication network, is not held liable for the violated intellectual rights,
resulted from placement this material in the information and telecommunication network
by a third party or by his/her instruction, while PJSC "AVOCADO NFT" complies with the
following conditions:
-
he did not know and should not have known, that the use of these IP assets or means
of identification by a person, who initiated the material transfer, containing the
relevant IP assets or means of identification is deemed illegal;
-
he timely takes all the necessary and adequate measures to cease the violation of
intellectual rights, if he receives a written claim from the copyright owner
concerning his/her violated intellectual property rights with references to the
website page and (or) the network address in the Internet, where this material was
published. The list of necessary and adequate measures, as well as their
implementation procedure is legally stipulated.
PJSC "AVOCADO NFT", which is not liable for the violated intellectual property rights
subject to this article, might receive claims concerning protection of intellectual
rights (see paragraph 1 of Article 1250, paragraph 1 of Article 1251, paragraph 1 of
Article 1252 of this Code), divorced from the applied civil liability including deleting
data, which violate exclusive rights or implying restriction on its access.
