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Big Techâs choice: Work with Brussels or face EU regulatory patchwork
Big Tech (FAANG) faces a choice: work with the European Commission on strict regulation or deal with technology regulation of each individual nation inside the Eurozone.
Author:
Jan 20, 2021
Big Tech (FAANG) faces a choice: work with the European Commission on strict regulation or deal with technology regulation of each individual nation inside the Eurozone.
The big picture: the EU Commission in Brussels has proposed to discuss 2 pieces of legislation in the coming months: regulating digital competition in the “Digital Markets Act” and the “Digital Services Act” to protect users, regulate hate speech and protect individual’s free speech. Companies that do not comply risk fines up to 10% of European turnover or even breakup.