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The European Union's Data Act includes regulations for smart contracts in cryptocurrencies like Bitcoin, sparking backlash from the Bitcoin community. The Act aims to ensure fair data use but has raised concerns about innovation restrictions and compliance challenges for smart contracts.

The European Parliament has enacted a law to modernize cryptocurrency markets, fostering tech innovation and new business models. The law recognises the transformative potential of cryptoassets, especially for small businesses, streamlining capital raising and enhancing cross-border transactions.

The ECB and the European Commission are progressing a digital euro project. Yet, it faces political skepticism over its value. Despite opposition, some ECB proponents see it as a digital-age solution, offering stable access to state money, independent of commercial banks.

The European Commission assures cryptocurrency industry that the Data Act won't ban smart contracts. Requirements for tamper-proof, resettable, and controlled access contracts apply to specific software in data-sharing contexts. Smart contract vendors shouldn't face issues.

The UK's Financial Services and Markets Bill, initially including crypto regulations, is being reviewed in Parliament. Despite no significant crypto-focused changes in the latest amendments, the bill reflects growing interest in cryptocurrency's impact on financial markets.