1. PixelPlaygroundHome
  2. Metaverse Insights

The Illinois Digital Property Protection and Enforcement Act: A Misguided Attempt at Control

• Metaverse Insights • 108 views

On February 20, the United States Senate of Illinois recently proposed a Digital Property Protection and Enforcement Act, which was ridiculed by the encryption…

The Illinois Digital Property Protection and Enforcement Act: A Misguided Attempt at Control

On February 20, the United States Senate of Illinois recently proposed a Digital Property Protection and Enforcement Act, which was ridiculed by the encryption community because of its “infeasible” plan. The bill forced blockchain miners and verifiers to do “impossible things” – such as canceling transactions under the order of the state court. The bill stipulates that any blockchain miner and verifier who fails to comply with the court order may be fined $5000 to $10000 per day.

The US state of Illinois proposed a bill to allow the mandatory change of blockchain records, which was ridiculed by the encryption community

Interpretation of the news:


The United States Senate of Illinois recently proposed the Digital Property Protection and Enforcement Act, which aimed to regulate the activities of blockchain miners and verifiers. However, the bill has faced criticism from the encryption community, with some calling it “infeasible.” The bill requires blockchain miners and verifiers to comply with state court orders, including canceling transactions. Non-compliance could result in severe fines ranging from $5000 to $10000 per day.

The bill is seen as misguided, as it attempts to enforce control over a technology that was designed to be decentralized and transparent. Blockchain technology is built to be resistant to manipulation, censorship, and control by any centralized authority. The proposed bill violates the basic principles upon which the blockchain was built, with its requirement that blockchain miners and verifiers cancel transactions under state court orders.

Furthermore, the bill’s definition of digital property is ambiguous, which raises questions about what constitutes “property” in the digital world. The digital world operates differently from the physical world and requires different laws and regulations. One cannot merely transfer the legal framework of the physical world without considering the peculiarities of the digital world.

The bill’s proposed fines are also excessively steep, making it out of reach for most small blockchain miners and verifiers. Such a high financial burden could lead to the shutdown of legitimate businesses, thereby defeating the purpose of the bill.

In conclusion, the Digital Property Protection and Enforcement Act is a misguided attempt at control that violates the very principles upon which the blockchain was built. Any attempt to regulate a technology that is built to resist centralization and control will ultimately fail. The digital world requires tailored laws that consider its unique characteristics, and the state of Illinois must go back to the drawing board to design laws that reflect the reality of digital technology.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1743/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/20/2023 06:02
Next 02/20/2023 06:24

Recommended articles