EU’s Data Act Approval Raises Concerns Among Blockchain Developers Over Smart Contract “Kill Switch” 27 November 2023

The European Union’s Data Act, recently approved by the European Parliament, includes a controversial provision requiring a “kill switch” for smart contracts, posing potential challenges for decentralized projects. The legislation, passed with 481 votes in favor and 31 against, mandates that smart contracts must be capable of being interrupted and terminated, introducing controls for resetting or halting contracts. The next crucial step for the Data Act is gaining approval from the European Council. The stipulation has sparked concerns within the blockchain community as it appears to deviate significantly from the foundational principle of decentralization. (Source: Coin Telegraph)