EU unveils new bill to curb power of tech giants | DW News
The European Union unveiled landmark legislation on Tuesday that lays out strict rules for tech giants to do business in the bloc. The draft legislation, dubbed the Digital Services Act (DSA) and the Digital Markets Act (DMA), outlines specific regulations that seeks to limit the power of global internet firms on the European market. Companies including Google, Apple, Amazon, Facebook and others could face hefty penalties for violating the rules. News agencies reported on the content of the drat The landmark draft law is set to be presented on Tuesday. EU antitrust czar Margrethe Vestager and EU digital chief Thierry Breton presented the draft on Tuesday, after the content of the new rules was leaked to the media on Monday.
EU competition chief Margrethe Vestager said that the bloc's new rules seek to bring "order to chaos" and update the bloc's previous digital rules to address — and reign in — the power of tech giants that dominate the market. The dual legislation sets out of rules sets out a list of do's, don'ts and penalties for internet giants:
- Companies with over 45 million EU users would be designated as digital "gatekeepers" — making them subject to stricter regulations.
- Firms could be fined up to 10% of their annual turnover for violating competition rules.
- The could also be required to sell one of their businesses or parts of it (including rights or brands).
- Platforms that refuse to comply and "endanger people's life and safety" could have their service temporarily suspended "as a last resort."
- Companies would need to inform the EU ahead of any planned mergers or acquisitions.
- Certain kinds of data must be shared with regulators and rivals.
- Companies favoring their own services could be outlawed.
Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/channel/deutschewelle
#BigTech #TechGiants #Regulation
Видео EU unveils new bill to curb power of tech giants | DW News канала DW News
EU competition chief Margrethe Vestager said that the bloc's new rules seek to bring "order to chaos" and update the bloc's previous digital rules to address — and reign in — the power of tech giants that dominate the market. The dual legislation sets out of rules sets out a list of do's, don'ts and penalties for internet giants:
- Companies with over 45 million EU users would be designated as digital "gatekeepers" — making them subject to stricter regulations.
- Firms could be fined up to 10% of their annual turnover for violating competition rules.
- The could also be required to sell one of their businesses or parts of it (including rights or brands).
- Platforms that refuse to comply and "endanger people's life and safety" could have their service temporarily suspended "as a last resort."
- Companies would need to inform the EU ahead of any planned mergers or acquisitions.
- Certain kinds of data must be shared with regulators and rivals.
- Companies favoring their own services could be outlawed.
Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/channel/deutschewelle
#BigTech #TechGiants #Regulation
Видео EU unveils new bill to curb power of tech giants | DW News канала DW News
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Reports: China to ban Australian coal in escalating trade war | DW NewsEven Vladimir Putin & Mitch McConnell Know Trump LostPresident Obama - Police Reform & The Impact Of Slogans | The Daily Social Distancing ShowCurrent EU laws not enough to address big tech antitrust issues, policy counsel saysCoronavirus rapid testing: The bridge to immunization? | COVID-19 SpecialWhy the EU is getting tough on Big Tech | CNBC ReportsBrexit talks extended to go 'extra mile' for a trade deal | DW News'The emergence of a third party is among us' - Interview with Lincoln Project Co-Founder Rick WilsonShannon goes off on Kyrie's 'bulljive' response to media, addresses Harden rumors | NBA | UNDISPUTEDCoronavirus vaccines: Fears, fact and fiction | DW NewsAirPods Max Review: Luxury Listening!Xinjiang: New reports on detention and forced labor of China's ethnic minorities | DW NewsDigital Services Act makes it easier for tech firms to follow the rules in Europe, Chatham House exeMcConnell Accepts Reality, Trump Still Won't Concede To Biden | The 11th Hour | MSNBCIntellectual Property and 'Made In China 2025'How the pandemic made this 30-year-old Australia’s youngest self-made billionaire | CNBC Make ItTech Giants Risk Breakup Under Strict EU Digital RulesGerman Chancellor Merkel announces hard holiday lockdown | DW NewsChina claims quantum supremacy with new supercomputer | DW NewsEU moves to rein in US tech giants with threat of fines, break-up