The Russian Federation May Allow Using Stablecoins in Foreign Trade Settlements

05 February 2024

The draft Law № 540256-8 “On Amendments to the Federal Law "On Digital Financial Assets, Digital Currency and on Amendments to Certain Legislative Acts of the Russian Federation"” (hereinafter “Draft Law”) has been submitted to the State Duma.

The Draft Law introduces spot changes to the Digital Financial Assets Law1 in terms of the definition of the term “secured stablecoins” and the procedure for the use of secured stablecoins in foreign trade contracts.

Personal Data Leak – A Problem To Be Solved

15 December 2023

According to the Group-IB research, last year the amount of publicly released databases of Russian companies six times outnumbered those unlawfully made public in 2021. At the same time, special provisions, regulating liability for personal data leaks, are not foreseen neither in the Code of Administrative Offenses of Russia nor in the Criminal Code.

Therefore, on 4 December 2023, the draft laws No. 502104-8 “On Amendments to the Code of Administrative Offences of the Russian Federation” (“draft law No. 502104-8") and No. 502113-8 “On Amendments to the Criminal Code of the Russian Federation” (“draft law No. 502113-8”), providing toughening liability for personal data leakage, were submitted to the State Duma.

According to the explanatory notes to these draft laws, currently existing liability is disproportional and incomparable to the potential social harm which can personal data leakage result in.

New Legal Requirements for User Registration on Internet Sites

08 August 2023

The President has signed a law which may have an impact on Internet users and website owners.

The Law amends the Act "On Information, Information Technologies and the Protection of Information" and the Act "On Communications". The law introduces new requirements for the owners of Internet sites and their users.

Legal Advisory Services Under Newly Applied Sanctions

07 November 2022

In October 2022, the European Commission approved the eighth package of sanctions against Russia. Among other restrictions it established a ban on the provision of legal services to Russian companies. A few weeks later, on October 24, the European Commission published answers to frequently asked questions including explanations as to what kind of legal services fall under the ban and whether the extension of sanctions to this sphere does not entail restrictions on the right to protection.