EU backs Data Act with clause to shut off smart contracts
The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated.
In a Nov. 9 press release, the parliament said the legislation passed 481 votes to 31 against. To become law, it will now need approval from the European Council — the heads of each of the 27 European Union member states.
The adopted Data Act outlines the requirement that smart contacts “can be interrupted and terminated” along with controls allowing functions that reset or stop the contract.
At its core, the Data Act would allow users to access data they generate from smart devices, with the European Commission claiming that 80% of such data collected is never used.
The Act’s critics have highlighted concerns about the smart contract clause, saying the definition is too broad and doesn’t provide clear details on when interruptions or terminations should occur.
Related: EU banking watchdog proposes liquidity rules for stablecoin issuers
A June open letter sent by EU blockchain advocacy bodies and signed by dozens of crypto firms also said the Data Act could see smart contracts that use data from public blockchains like Ethereum be deemed in breach of the law.
The European Commission has reportedly said, however, that the Data Act isn’t concerned with blockchain and fears the Act would make smart contracts illegal are unfounded.
Magazine: Crypto City Guide to Helsinki: 5,050 Bitcoin for $5 in 2009 is Helsinki’s claim to crypto fame
Trump’s administration could push DeFi from niche to mainstream, with crypto advocates eyeing potential pro-crypto policy shifts.
A former Conservative MP has said he felt “enormous guilt” when he found out he was the victim of a Westminster honeytrap scandal.
William Wragg resigned from the parliamentary party in April after he admitted giving out fellow politicians’ phone numbers to the suspected perpetrator of the sexting scam.
He said he felt threatened and pressured by the “catfish” after exchanging explicit photos with them.
Mr Wragg divulged the numbers to what he thought was a real person on a dating app, amid fears that the intimate images of himself would be leaked.
The former Tory party whip said he first saw news articles about the scandal when he was on a train.
The 36-year-old told the BBC: “My stomach just dropped.
“When I found out some of the things that had been going on, I just felt enormous guilt, enormous remorse.”
After the former Hazel Grove MP handed over the personal information, the catfish told Mr Wragg to vouch for their identity with their next potential victims, with the catfish telling their fresh targets they were a former researcher for Mr Wragg.
Mr Wragg agreed and this is what he feels “the most regret for” as it was “deceitful”.
Pic: PA
Panic attacks
After he was allegedly blackmailed, Mr Wragg started having panic attacks, with instances of yelling, crying, and swearing shocking his sleeping flatmates.
Police are investigating the scandal with at least 12 men with links to Westminster believed to have received unsolicited messages from the aliases “Charlie” and “Abi”.
The fake accounts were allegedly part of the scam to get MPs and other people in politics to send explicit images and other private or sensitive information.
Unlike others who were approached by the catfish accounts, Mr Wragg approached “Charlie” himself after spotting the profile on gay dating app Grindr.
And he thought the account was a real person before exchanging explicit photos with the catfish.
Suicidal thoughts
When the scandal broke, the humiliation and shame became too much for Mr Wragg.
He recounted photographers and the media camped outside his parents’ house, which is where he went to as he began to have suicidal thoughts.
Shortly after receiving medical attention, he returned to Westminster to resign as Conservative whip and from his posts on two parliamentary committees.
He had already announced he would not run in the next general election.
Keep up with all the latest news from the UK and around the world by following Sky News
Man detained
In June, a member of the Labour Party aged in his mid-20s was apprehended in Islington, north London, on suspicion of harassment and offences under the Online Safety Act.
He has since been released on bail.
Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK.
“Let’s be clear on one thing. Gary Gensler is evil,” Tyler Winklevoss said in a detailed thread about the SEC chair amid resignation rumors.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports7 months agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Environment1 year agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway