Based on current reports, the EU (European Union) is focusing on new measures against the tech giants. These steps include forcing them to spin off or sell pieces of European businesses. This is only going to occur if their market dominance is known to undermine the interests of consumers and smaller competitors. EU Commissioner Breton stated that the proposed remedy also contains the entire exclusion of large technology groups from the single market. But he noticed that these steps will only be employed in extreme conditions.
EU Takes on New Measures Regarding the Tech-giants
Along with this, the EU is contemplating the setting up of a rating system. This system will enable the public and stakeholders to assess the behavior of firms in several areas. The system will see parameters like compliance with tax regulations and the pace with which illegal content is removed.
EU Commisioner Breton, who is leading a comprehensive reform of the EU’s digital rules, stated,
The end-users of these platforms have a feeling that they are too big to be regulated. In certain circumstances, we may still have the right to implement structural separation.
The European Union’s upcoming Digital Services Act will place new rules about the duty of platforms in managing illegal content and false information. Ahead of this, the European Union carried out a public consultation on the bill.
The Digital Commerce Administration will upgrade the e-commerce directive. This is due to the fact that the e-commerce directive is all about 20 years old (since 2000). At the moment, the majority of the top companies in the market were either in their infancy or didn’t exist.