Fun

News Feed - 2023-11-10 10:11:30

Jesse Coghlan7 hours agoEU backs Data Act with clause to shut off smart contractsThe Act, inclusive of a clause necessitating “kill switches” on smart contracts, only now needs approval from the European Council to pass into law.2348 Total views9 Total sharesListen to article 0:00NewsJoin us on social networksThe 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 release, the parliament said the legislation passed 481 votes to 31 against. To become law, it will now need approval from the European Council — the heads of each of the 27 European Union member states.


The adopted Data Act outlines the requirement that smart contracts “can be interrupted and terminated” along with controls allowing functions that reset or stop the contract.Highlighted excerpt of the Data Act relating to smart contracts. Source: European Parliament


At its core, the Data Act would allow users to access data they generate from smart devices, with the European Commission claiming that 80% of such data collected is never used.


The Act’s critics have highlighted concerns about the smart contract clause, saying the definition is too broad and doesn’t provide clear details on when interruptions or terminations should occur.


Related:EU banking watchdog proposes liquidity rules for stablecoin issuers


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.


Magazine:Crypto City Guide to Helsinki: 5,050 Bitcoin for $5 in 2009 is Helsinki’s claim to crypto fame# Law# Smart Contracts# Europe# European Union# RegulationAdd reactionAdd reactionRead moreCan crypto Privacy Pools help balance privacy and regulation?How to manage crypto losses on tax returns in the US, UK and CanadaGreece establishes AI advisory committee to create national strategy

News Feed

Government to Airdrop $9 Billion in Free Money to 7 Million Hong Kong Residents
Government to Airdrop $9 Billion in Free Money to 7 Million Hong Kong Residents The government of Hong Kong has decided to airdrop about $9 billion in free money to an estimated
Dubai to Create Crypto Zone, Binance Joins Effort
Dubai to Create Crypto Zone, Binance Joins Effort The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The mov
Senators pressure SEC’s Gensler not to approve any more crypto ETFs
Tom Mitchelhill7 hours agoSenators pressure SEC’s Gensler not to approve any more crypto ETFsTwo Democratic senators argue that any further approvals would expose investors to risks including “fraud and manipulation.
Polygon Reveals Supernets Project to Bolster Web3 Adoption, Pledges $100 Million to Early Users
Polygon Reveals Supernets Project to Bolster Web3 Adoption, Pledges $100 Million to Early Users On April 22, the layer two (L2) scaling network Polygon introduced the new Supernets
Bitcoin Cash Vietnam-Based Fiat-to-Crypto Trading Support Added to Bvnex Exchange
Bitcoin Cash Vietnam-Based Fiat-to-Crypto Trading Support Added to Bvnex ExchangeThis week the trading platform Bvnex Exchange announced the support of bitcoin cash on the Vietnam-b
Dubai Free Trade Zone Partners With South Korean Companies to Expand Web3 and Metaverse Business
Dubai Free Trade Zone Partners With South Korean Companies to Expand Web3 and Metaverse Business The Dubai Multi Commodities Centre, one of the biggest free trade zones in the worl
Amaka Nwaokocha10 hours agoAI and real-world assets gain prominence in investor discussionsDiscussions concerning cryptocurrency prices have waned due to a prolonged period of sideways market performance.2963 Total views
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction The Ross Ulbricht Genesis non-fungible token (NFT) collection auction has come to an end
Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons
Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and
Augmented Reality-Based Dogemon Go Mobile Game Allows Players to Earn Dogecoin
Augmented Reality-Based Dogemon Go Mobile Game Allows Players to Earn Dogecoin Following this year’s hype toward the meme-based digital currency dogecoin,
Bitcoin Price Poised for ‘Imminent’ Breakout As Network Hashrate Hits Record Highs
Bitcoin Price Poised for "Imminent" Breakout As Network Hashrate Hits Record HighsThe price of bitcoin could see an ‘imminent’ breakout, according to the latest Glassnod
Tiffany & Co. NFT Sale Sells out, Luxury Jewelry Retailer Rakes in $12.5M in Ethereum
Tiffany & Co. NFT Sale Sells out, Luxury Jewelry Retailer Rakes in $12.5M in Ethereum On August 5, 2022, the American luxury jewelry retailer Tiffany & Co. announced that the compa