MOSCOW, June 23 (RAPSI) — Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, has introduced a bill to supplement the national Code of Administrative Offenses with an article on the violation of digital rights before the lower house of Russia's parliament.
The bill proposes to supplement the Code with provisions concerning violations of the requirements of the legislation on digital rights.
According to the initiative, the following specific administrative offenses concerning persons carrying out transactions with digital rights in violation of the respective requirements; information system operators, investment platform operators for failure to fulfill their obligations related to restrictions on entering information about digital rights into the information system and investment platform, respectively, are to be introduced to the Code.
The draft provisions also provide for administrative liability for persons illegally carrying out activities in the field of digital rights.
The powers to initiate and consider cases for failure by operators to fulfill the obligation to ensure the impossibility of making or changing a record of digital rights in the information systems are proposed to be assigned to the Bank of Russia, for non-compliance with the requirements of the legislation on digital rights when making transactions with the said rights, as well as for carrying out unlicensed activities in the field of digital rights - for the police and prosecutor's offices.
According to the draft law, the statute of limitations for bringing to administrative responsibility for violations of the requirements of legislation on digital rights is set to be one year from the date of the commission of the relevant administrative offense. It is proposed that citizens, legal entities and officers of such entities are to be held liable for committing the relevant specific administrative offenses.
The proposed amounts of fines under the new regulations, for example, for legal entities, make up to one million rubles (about $18,000 at the current exchange rate).