Beginning this Friday, the biggest tech companies in the world must abide by a broad new European law that regulates everything from social media moderation to targeted advertising and the sale of counterfeit goods online, with possible ripple effects for the rest of the world.
The unprecedented EU measures for online platforms will cover a wide range of companies, including Amazon, Apple, Google, Meta, Microsoft, Snapchat, and TikTok, among many others, and they represent one of the most thorough and ambitious attempts ever made by policymakers to legislate regulation of tech giants. For some companies, it might result in fines, and it might also change how consumers’ software is developed.
The rules aim to address some of the most important issues that critics of major tech platforms have brought up recently, such as the spread of false information and disinformation, potential harms to young people’s mental health due to algorithmically recommended content, a lack of transparency, and the proliferation of illegal or fake goods on online marketplaces.
Companies have had until now to get ready for the enforcement of the Digital Services Act (DSA), which was passed by the European Union last year. A crucial compliance deadline, which falls on Friday, will force tech platforms with more than 45 million EU users to comply with the law’s requirements.
The EU adds that the law aims “to establish a level playing field to foster innovation, growth and competitiveness both in the European Single Market and globally.” The deed strengthens Europe’s position as a pioneer in checking the influence of powerful US tech companies.
Source-CNN
