The European Union is set to unveil two laws, the Digital Services and Digital Markets Acts, that aim at defining new rules for the digital market, especially for the operations of ùtech giants operate.
The proposed laws focus on critical aspects of the European Union market, including competition and making platforms that host the content.
Eu authorities pointed out that the rules were never revisioned since 2000, the new laws have been anticipated by commissioners Margrethe Vestager and Thierry Breton.
Online platforms of any size have become central in our economy and society, especially during pandemics, when digital services play a crucial role in our society. Online services help us to continue working, doing business, learning, staying informed, shopping, entertaining ourselves, socializing, and staying in touch with other people and friends.
The duo explained that the interests of a few companies should not dictate the EU market threatening our future.
In order to enforce these rules, the EU proposes heavy fines for violations.
“While digital services offer unprecedented opportunities, the risks are also real: online bullying, hate speech, fake news, skewed elections, unsafe or counterfeited goods, being choked off from business opportunities if you’re a small player – the list is long.” both commissioners wrote on The Irish Times.
“The business and political interests of a handful of companies should not dictate our future.” “Our rules on digital services in Europe – the most coveted single market in the world – date back to 2000. Most online platforms hardly existed back then.”
The commissioners urge an update of the EU legislation framework, making sure that new rules and principles are respected everywhere.
Clearly, the new laws will have a significant impact on the operations of US-based tech giants, like Google and Facebook, labeled as “gatekeepers,” and address their market dominance.
“In particular, the European Commission has indicated it objects to such giants using the data they gather from one service to “improve or develop” a new one in a different area, making it difficult to compete with them.” reported the BBC.
“The Commission labels such firms “gatekeepers”, saying they “set the rules of the game for their users and their competitors”.”
If you are interested in my opinion give a look at the following interview I made with the RT broadcast.
(SecurityAffairs – hacking, EU Digital Services)