Wednesday, 5 July, 2023
EU Proposes Digital Markets Act to Regulate Gatekeepers like Apple, Google, Amazon, Meta, and TikTok
The European Union has introduced the Digital Markets Act, legislation aimed at regulating dominant tech platforms such as Apple, Google, Amazon, Meta (formerly Facebook), and TikTok. The act seeks to ensure fair competition, curb monopolistic practices, and protect consumers' interests. If passed, it would impose stricter rules on these digital gatekeepers, including transparency requirements, prohibitions on self-preferencing, and potential fines for non-compliance.