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Not So Immutable? EU Passes Bill Requiring Smart Contracts to Have Kill Switch

Published 03/15/2023, 12:30 PM
Not So Immutable? EU Passes Bill Requiring Smart Contracts to Have Kill Switch

  • The bill doesn’t target crypto but still has a clause related to smart contracts.

  • A kill switch implementation into smart contracts would greatly affect the industry.

  • The bill isn’t in its final form yet.
One of the core value propositions of blockchain technology is immutability – the ability to remain unchangeable under any circumstances.

However, a recent bill passed by the European Union (EU) is set to challenge the notion of immutability.

Blockchain developers are facing increasing regulatory pressures. The European Parliament voted on Tuesday to pass the Data Act, which has a clause requiring smart contracts to have a kill switch.

A kill switch would effectively allow any smart contract to be shut down and have its activity reset, directly affecting immutability.

The new legislation isn’t explicitly directed toward...

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