Data law extends to smart contracts
This decision was made by the European Parliament and added to the list of provisions even the strict requirements for developers that had been removed the day before.
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From now on, it is possible to obtain EU declarations of conformity for smart contracts only if the following criteria are met:
- strict access control mechanisms;
- protection of trade secrets;
- the ability to suspend or interrupt transaction mechanisms;
- a level of protection and legal certainty similar to contracts created by other means.
Parliamentarians note that the innovations are not aimed specifically at the crypto industry and are being implemented as part of a broader strategy to regulate the data market.
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