Negotiations on the European Data Act are expected to wrap up by the end of June.
Further discussion will be at the future dialogue meeting on May 23.
The European blockchain sector is preparing to make a last push to avert rules that would kill the smart contracts underlying the decentralized finance (DeFi) protocols that European authorities have been striving to introduce.
Moreover, negotiations on the European Data Act, which aim to control data transferred between smart devices utilizing IoT networks, are expected to wrap up by the end of June. The DeFi industry as a whole is concerned about the lack of transparency in the rules governing the underlying smart contracts.
DeFi proponents, such as the European Crypto Initiative, have urged politicians to address the concerns of broader blockchain developers who may be affected by the Data Act’s reach. According to the European Crypto Initiative, this kind of fallout might be fatal for DeFi.
Marina Markezic, executive director of
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