Europe: Smart Contracts Definition and Legality

There is currently no legal framework in the European Union specifically tailored for smart contracts. That said, Article 9 of the Electronic Commerce Directive (which applies on both a B2B and B2C basis) requires EU member states to ensure that their legal systems allow contracts to be concluded by electronic means. Otherwise, definitions of a “smart contract” and whether or not a contract is legally binding are likely decided at the member state level.


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