{"id":75552,"date":"2023-03-14T17:50:18","date_gmt":"2023-03-14T15:50:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75552"},"modified":"2025-09-10T12:17:29","modified_gmt":"2025-09-10T09:17:29","slug":"eu-lawmakers-set-sights-on-regulating-smart-contracts","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-lawmakers-set-sights-on-regulating-smart-contracts\/","title":{"rendered":"EU lawmakers set sights on regulating smart contracts"},"content":{"rendered":"<p>The European Parliament has adopted a data-protection bill that concerns smart contracts. <a href=\"https:\/\/www.theblock.co\/post\/219590\/eu-parliament-passes-smart-contract-regulation-under-data-act\">The Block<\/a> reports.<\/p>\n<p>The document does not explicitly reference the Bitcoin industry and instead concerns connected devices and the Internet of Things (IoT) sector.<\/p>\n<p>However, experts fear that the bill&#8217;s provisions could affect the cryptocurrency space in software widely used in the DeFi sector.<\/p>\n<p>According to the author of the draft, Pilar del Castillo Vera, it is aimed at &#8220;optimising existing business models and processes, speeding up the development of new ones, and thereby creating value and jobs&#8221;.<\/p>\n<p>According to the document, smart-contract developers will be required to comply with EU-wide compliance rules.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We regard Article 30 as a marginal provision applicable to smart contracts that facilitate data transfer using IoT products, rather than those deployed in DeFi applications,&#8221; said Natalie Linart, a lawyer at ConsenSys.<\/p>\n<\/blockquote>\n<p>She allowed the further spread of the requirements to <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a> industry software.<\/p>\n<p>Marina Markezich, head of the American company EUCI, said:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It is very difficult, almost impossible, for most smart contracts today to comply with this article.&#8221;<\/p>\n<\/blockquote>\n<p>Experts believe that the adopted rules could drive industry projects to relocate out of Europe. However, they acknowledge the relevance of the act&#8217;s enforcement practice.<\/p>\n<p>The Block noted that lawmakers softened several of the initially proposed requirements.<\/p>\n<p>Earlier in the EU Parliament, <a href=\"https:\/\/u1f987.com\/en\/news\/final-vote-on-eu-mica-regulation-postponed-to-april\">the final vote<\/a> on the comprehensive cryptocurrency regulation bill was moved to April.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Parliament has adopted a data-protection bill that concerns smart contracts. The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":75553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,36],"class_list":["post-75552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75552"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75552\/revisions"}],"predecessor-version":[{"id":75554,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75552\/revisions\/75554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75553"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}