The European Commission aims to give more control over smart contracts in the new Data Law.
The European Commission published a Data Law draft on February 23, which also includes pressures for smart contracts. Focusing on general data protection and privacy, the bill plays a large role in smart contracts and requires smart contract developers to meet new legal standard requirements in data sharing and protection practices. The bill specifically threatens oracles and requires apps using smart contracts to include a kill switch.
The reason behind this provision may be the recent Wormhole attack and The Dao attack, which has come to the fore again with the alleged perpetrator behind it. But again, these kill switches threaten the promise of immutability.
Although the bill is still far from being a law, the European Commission is the institution with the most power in such regulations.
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