EU backs Data Act with clause to shut off smart contracts
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The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated.
In a Nov. 9 press
A June open letter sent by EU blockchain advocacy bodies and signed by dozens of crypto firms also said the Data Act could see smart contracts that use data from public blockchains like Ethereum be deemed in breach of the law.
The European Commission has reportedly said, however, that the Data Act isn’t concerned with blockchain and fears the Act would make smart contracts illegal are unfounded.
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