EU member states agreed on a common approach for rules to be imposed on U.S. tech firms on Thursday. Reuters reported on the move, which could prove to be very significant.
The DMA has a list of dos and don’ts for online gatekeepers – companies that control data and access to their platforms – reinforced by fines of up to 10% of global turnover. The Digital Services Act (DSA) forces the tech giants to do more to tackle illegal content on their platforms, with fines of up to 6% of global turnover for non-compliance. The common position adopted by EU countries follows the main points proposed by Vestager, with some tweaks, with the European Commission as the main enforcer of the new rules despite an initial French proposal to give national watchdogs more power. Negotiations are expected to start next year, with the rules likely to be adopted in 2023.
Check It Out: EU Countries Agree on Common Approach to U.S. Tech Giants