Europe’s Data Act recently went into force, and the legislation has far-reaching requirements that could force smart contract developers to comply with strict requirements–such as terminating a live smart contract–even in cases where the smart contract features immutability, thus making any changes impossible.
“Safe termination and interruption: ensure that a mechanism exists to terminate the continued execution of transactions: the smart contract shall include internal functions which can reset or instruct the contract to stop or interrupt the operation to avoid future (accidental) executions,” reads Article 30 of the Data Act.
In essence, the Data Act outlaws immutable smart contracts, and thus true blockchain applications, potentially marking the dawn of a dark day for the European crypto industry after much optimism around Markets In Crypto Assets (MiCA) legislation passed last year. The draconian rules in the Data Act are likely to cause an exodus of cry
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