Europe puts a stop to the Kings of the Web
After months of negotiations, the Council of the EU and the European Parliament have reached an agreement on the Digital Markets Act legislation aimed at putting an end to the abuse of dominant position by digital “giants”.
Groups like Google, Apple, Meta (Facebook), Amazon, Microsoft, Booking And TikTok they will be subjected to various obligations and prohibitions, in order to curb practices that are harmful to competition. The list of companies remains to be defined according to the criteria of turnover, market capitalization and number of users.
The regulation is expected to enter into force in January 2023 and constitutes a real novelty, since it provides the tools for the authorities to act quickly before the abusive behavior has altered the conditions of competition. The Digital Markets Act provides for a “black” list with some practices used by large platforms that act as “gatekeepers” and will allow the Commission to conduct market surveys and sanction non-compliant behavior.
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