E.U. countries have agreed on rules aimed at curtailing the power of U.S. tech giants.
This common position focuses on two sets of rules initiated by Commissioner Margrethe Vestager on the Digital Markets Act and on the Digital Services Act.
The joint agreement means that the European Commission is working as the main enforcer of the new rules proposed by Vestager. Therefore, the agreed changes will offer many advantages, including the right to allow end-users to unsubscribe from core platform services, the shortening of deadlines and, finally, the improvement of the criteria for the designation of companies responsible for user data.
After examining the two amendments proposed by Vestager, the Digital Markets Act contains a list of dos and don’ts for companies responsible for data and access to their platforms.
Violators face fines of up to 10% of global revenue. For the second act, the Digital Services Act (DSA) will ensure that technology companies do more to address the problem of illegal content on their platforms. Penalties for violations of this rule include up to 6% of global revenue for non-compliance.