RABIT Weekly News(W3 March 2023)

EU parliament passed an act requiring Smart Contracts to include the ‘Kill Switch’ that controls activities. As several blockchain platforms use smart contract technology, including Ethereum, the virtual asset industry is concerned that the bill could hinder technological innovation in blockchain platforms.
Meta is ending support for NFTs on Instagram and Facebook. The industry assumes that Meta’s decision was mainly due to performance pressure from excessive investment in metaverse businesses such as NFT.
Amazon, the world’s largest e-commerce company, is set to launch its own NFT marketplace in April. Amazon seems to plan to expand its business to the NFT market, which has been considered to have excellent growth potential.