European Union enacts groundbreaking legislation to regulate big tech
Today, the European Union has passed the Digital Markets Act and Digital Services Act, aiming to regulate Big Tech’s power. The Digital Services Act focuses on platforms like Facebook, Amazon, and Google, requiring them to be more proactive in content moderation and preventing the sale of illegal goods. Users will have more transparency on algorithms and the ability to challenge moderation decisions. The Digital Markets Act targets dominant platform holders from abusing their scale, promoting interoperability and fair treatment for developers. Penalties for non-compliance can reach up to 10% of total worldwide turnover, potentially increasing to 20% for repeated violations. The acts will be implemented by 2024, giving platforms time to comply with the new regulations.
