Legislative negotiators from the European Union have agreed on new rules known as the Data Act – after the Web3 community raised fears that its provisions on smart contracts could kill the sector.
While no final legal draft of the deal has yet been released, negotiators have told CoinDesk that the text on smart contracts was tightened up from original plans, which are intended to give people more rights over any data produced about them. That suggests some improvements to a proposal the European Commission made in 2022, which said automated programs linked to the exchange of data should include kill switches that allow them to be safely terminated.
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