Category: data act

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EU backs Data Act with clause to shut off smart contracts

November 10, 2023

The Act, inclusive of a clause necessitating “kill switches” on smart contracts, only now needs approval from the European Council to pass into law. 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…
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EU Data Act Proposes Shutdown Function for Smart Contracts

March 2, 2022

The European Union has published its new Data Act, a law proposal that aims to regulate the generation and handling of data by the actors that harness it. The act, in its large scope, touches on the subject of smart contracts and proposes that every smart contract should have a termination function to stop the…
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