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The Digital Markets Act could open the door to breaking up large tech companies. Agence France-Presse/Getty Images
The executive branch of the European Union released two sweeping legislative proposals on Tuesday that will have major global consequences for Big Tech introducing massive new fines and opening the door to breaking up companies.
The European Commission presented proposals for the Digital Services Act and Digital Markets Act on Dec. 15, laying out a regulatory framework that will require new responsibilities for digital platforms and change how they fit into the market.
The two acts must be approved by the European Parliament and Council of Ministers before they take effect.