June 28 (Cointime) - Negotiators from the European Union have reached an agreement on the Data Act, which has caused concern in the Web3 sector due to its potentially fatal impact on decentralized transactions governed by immutable code. The legislation aims to give people more rights over any data produced about them, but the scope of the provisions on smart contracts was initially vague. While the text on smart contracts has been tightened up from the original plans, the final agreed version of the law still refers to "smart contracts," which could prove unworkable for public, permissionless blockchains. The European Parliament and Council must vote in favor of the text agreed by negotiators for the Data Act to pass into law.