Due to Bitcoin Core v30 gaining in popularity, it has become necessary to move forward on luke-jr's ML proposal to temporarily limit arbitrary data at the consensus level, which so far has 3 weeks with no objections:
The idea is to strongly re-affirm in consensus that bitcoin is money, not data storage. It is implemented as a temporary softfork that can activate in one of two different ways: proactive, or reactive.
After a year, the soft fork expires, giving us time to come up with a more permanent solution.
The timeline is a bit tight, but I think everyone has incentives to support a quick and orderly activation.
Please feel free to leave a comment on the PR or reach out to me over email with any feedback.
There is much work still to do, so if you have some technical skills and would like to join in the effort with dev/testing, please reach out as well.