The European Commission has revealed on September 6th the final list of major digital platforms that will be subject to the competition rules of the Digital Market Act. There are six platforms in total, with five of them being American companies.
European regulation applies to various social media platforms and tech giants such as Amazon, Google (Alphabet), Meta (formerly Facebook), TikTok, Samsung, Apple, and Microsoft. These companies are subject to regulations imposed by the European Union.
The European Union has implemented the Digital Markets Act (DMA) to ensure fair competition and protect consumers in the digital market. The DMA aims to address the market dominance of tech giants and prevent anti-competitive practices. It imposes certain obligations and restrictions on these companies to promote a level playing field.
Under the DMA, companies with significant market power, known as gatekeepers, are subject to additional rules and scrutiny. These gatekeepers are required to provide fair access to their platforms, ensure data portability, and avoid self-preferencing their own products or services. They also need to be transparent in their algorithms and provide clear terms and conditions to users.
The DMA also establishes a Digital Services Act (DSA) that sets out rules for online intermediaries, including social media platforms. The DSA requires these platforms to take measures to combat illegal content, such as hate speech or counterfeit products. It also introduces a new “notice and action” procedure for users to report illegal content.
In addition to the DMA and DSA, the General Data Protection Regulation (GDPR) applies to all tech giants operating in the European Union. The GDPR regulates the collection, use, and protection of personal data, ensuring user privacy and data security.
Overall, the European Union has implemented various regulations to ensure fair competition, protect consumer rights, and safeguard user data in the digital market. These regulations apply to social media platforms and tech giants, including Amazon, Google, Meta, TikTok, Samsung, Apple, and Microsoft.