Polygon Labs Seeks Amendments to EU Data Act for Smart Contracts
Polygon's Advocacy for Permissionless Technologies
Polygon Labs recently addressed European authorities regarding the Data Act, emphasizing concerns about its implications for smart contracts. The firm, known for its Ethereum layer 2 scaling solution, urged the exclusion of permissionless technologies and their creators from the legislation's scope.
Concerns Over Article 30
Central to Polygon's concerns is Article 30 of the Data Act. This article imposes requirements on parties offering smart contracts to make data available, which Polygon argues is overly broad and unenforceable in decentralized systems. They believe these regulations could hinder the growth and development of permissionless blockchain systems.
Proposed Amendments for Clarity
Polygon Labs proposed amendments aimed at clarifying the legislation. They suggest that smart contracts should not be treated as agreements and that the Data Act should only apply to permissioned systems. These changes would align the legislation with existing regulations like MiCA, which excludes certain crypto-asset services.
Collaborative Advocacy
The letter to European policymakers was not just from Polygon Labs but also included support from other industry players, such as France-based crypto wallet maker Ledger. This collective effort underscores the industry's unified stance on promoting a regulatory environment conducive to innovation.
Implications for the Tech Space
The outcome of this advocacy could significantly impact the tech landscape in Europe. By seeking these amendments, Polygon Labs aims to ensure that the legislation supports rather than stifles innovation within decentralized technology frameworks.
Conclusion
Polygon Labs' initiative reflects a broader industry push for clear and supportive regulations for blockchain technologies. As discussions progress, the tech community eagerly anticipates how European authorities will respond to these proposed changes.
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