The state of Illinois submits a bill on the prohibition of invariability of the blockchain – Bits Media

The Senator from the state Illinois submitted a bill on the change or cancellation of transactions in the blockchain by order of the court, penalty. Lawyers and crypto community ridiculed this initiative.

At the beginning of the month, Senator from Illinois Robert Peters (Robert Peters) submitted a bill entitled "The Law on the Protection of Digital Property and Law enforcement Actions", According to which transactions in the blockchain may be subject to change or cancellation by order of the court. The court may make this decision at the request of the Prosecutor General or the state prosecutor. The law will apply to any blockchain network, in which a transaction is performed on the territory of the state. For every day of non -fulfillment of the court order, Blockchain miners and validators can be fined $5 000 to $10 000.

A lawyer from Florida Drew Hinks drew attention to the document (Drew Hinkes). He called him the most ineffective state law, associated with blockchain and cryptocurrencies. Hinx wrote on Twitter, that Illinois has always been a supporter of innovation, But this initiative will become a turn in the opposite direction.

The lawyer recognized the need to protect consumer rights, But the operators of the nodes will not be able to comply with the bill, proposed by Senator Peters. Otherwise, a new criminal and civil liability will arise for them from the fear of applying a fine. Hinx is also amazed, that validators, not taking reasonable actions to execute a court decision, will not be able to count on the protection of their rights.

“Get ready “Illinoid” your blockchain! Yes, Illinois will make you rewrite blockchain, in particular, include code in the smart contract, which will ensure the execution of a court order. And if you don't do it, You can be disheveled ", Hinx is ironic.

The crypto community also laughed at the drafts of Peters. Users considered it funny, that by decision of the transaction court should somehow be changed without the need to use the closed key of participants. Many are perplexed, Why politicians offer such bills, Not understanding, How the technology works. Constantly - a key characteristic of blockchain technology and distributed registry (DLT), There is no coercion mechanism in them, which can be involved in the courts.

The bill has already passed the first reading. So that he is transferred to the governor of Illinois Jay Protskur (Jay Pritzker) for signing, Initiatives should receive support of legislators on three readings. If the law is approved, He will enter into force through 30 days.

Recall, what in 2020 year Illinois recognized the legal force of smart contracts and records in the blockchain. It means, that smart contracts can be used as evidence in court and is considered an alternative to paper documents.