EU Parliament passes smart contract regulation under Data Act
Smart contracts are one step closer to falling under European Union-wide regulation within a broader strategy on data markets, an issue that continues to raise concerns within the crypto industry. The European Parliament adopted legislation under the Data Act on Tuesday, with 500 votes in favor and 23 against.
The legislation, and its provisions on smart contracts, is not explicitly aimed at the crypto industry, but focuses on data from connected devices, or the Internet of Things. Yet some in the industry worry the Data Act may have far-reaching effects on crypto if the scope isn’t clearly defined, especially as smart contracts — automated executions written into software — underpin the infrastructure of DeFi. The greatest potential of the legislation, according to Pilar del Castillo Vera, a centrist-right MEP and rapporteur on the Data Act.
Source
https://t.me/DeFi_Ethereum
