Big Tech crackdown looms as EU, UK ready new rules
The European Union and the United Kingdom are preparing to introduce new rules that will tighten regulations on Big Tech companies such as Facebook, Google, and Amazon. The move comes amid growing concerns about the power and influence of these companies, and their impact on competition, privacy, and democracy.
The EU is set to unveil a new Digital Services Act (DSA) and Digital Markets Act (DMA) in December 2020. The DSA will update the existing e-commerce rules and introduce new obligations for online platforms, including social media networks, search engines, and marketplaces. The DMA will target companies that have significant market power and impose new restrictions on their behavior, such as preventing them from favoring their own products or services over those of competitors.
The UK, which left the EU in January 2020, is also planning to introduce new rules for Big Tech companies. The government has launched a consultation on a new Digital Markets Unit (DMU) that will oversee a new code of conduct for companies with significant market power. The code will aim to promote competition, innovation, and consumer choice, and could include measures such as requiring companies to share data with rivals or allowing users to easily switch between platforms.
The new rules are likely to face opposition from Big Tech companies, who have already warned that they could stifle innovation and harm consumers. However, supporters argue that the rules are necessary to ensure that these companies are held accountable and that competition is not distorted.
The EU and UK are not alone in their efforts to regulate Big Tech. The United States has also been taking steps to address the power of these companies, with the Department of Justice recently filing a lawsuit against Google for alleged antitrust violations. Other countries, such as Australia and India, have also been exploring ways to regulate Big Tech companies.
Overall, the new rules being introduced by the EU and UK represent a significant shift in the way that Big Tech companies are regulated. It remains to be seen how effective these rules will be in addressing the concerns around these companies, but they are likely to have a major impact on the tech industry in the years to come.
https://www.lifetechnology.com/blogs/life-technology-technology-news/big-tech-crackdown-looms-as-eu-uk-ready-new-rules
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