Although US officials are finally waking up to the need to govern the digital economy, America's laissez-faire approach has left the door wide open for the European Union to step in as the global rule-maker. And with two new landmark regulations, the EU has set its sights squarely on the US tech giants.
NEW YORK – The European Commission has just unveiled landmark regulations for the digital economy, setting yet another global standard. The Digital Services Act (DSA) and the Digital Markets Act (DMA), designed to curtail the power of Big Tech, will have a far-reaching impact on the business practices of Apple, Amazon, Facebook, Google, and other primarily US-based giants. The European Union is expected to designate these companies as the “gatekeepers” of the Internet, justifying a targeted regulatory push to rein in their outsize market power.
NEW YORK – The European Commission has just unveiled landmark regulations for the digital economy, setting yet another global standard. The Digital Services Act (DSA) and the Digital Markets Act (DMA), designed to curtail the power of Big Tech, will have a far-reaching impact on the business practices of Apple, Amazon, Facebook, Google, and other primarily US-based giants. The European Union is expected to designate these companies as the “gatekeepers” of the Internet, justifying a targeted regulatory push to rein in their outsize market power.