The draft law defines a new type of contract, a smart contract, based on the same blockchain technology that underpins cryptocurrencies.
The difference between a digital token and a cryptocurrency is defined based on the number of producers: one person for a digital token and several persons (miners) for cryptocurrencies.
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The draft law allows to exchange digital tokens or cryptocurrency for rubles or foreign currency only through special operators, including brokers and special platforms.
A separate article outlines the legal framework for the Initial Token Offering procedure, which allows cryptocurrency startups to fund their projects by selling off portions of the future product.
