A new law enacted by the European Union will put technology giants in a difficult position. Strict regulations and heavy fines may be on the way for 19 companies with more than 45 million active users in EU countries. Here is the European Union’s new Digital Services Act.
What is the EU Digital Services Act?
late this year Amazon, Microsoft and Google For many companies such as the European Union rules will change. The Digital Services Law, which has been a matter of debate in the European Commission for a while, will bring new rules to companies that process user data.
According to the statement, 19 large companies have more than 45 million monthly active users in the EU. This means they will be subject to the Digital Services Act. With the new law, companies can from illegal content will be held responsible. It will also have to initiate inspections if Europe asks for it.
Signatures for the chip production facility are being signed in Gebze!
TÜBİTAK and Qatar Hamad Bin Khalifa University are collaborating to establish a chip manufacturing facility at the TÜBİTAK Gebze campus.
The Digital Services Act also requires these companies to undergo annual audits and provide users with more information about their content. For example, Meta needs to specify from which companies it receives payment for advertisements on social media platforms.
Companies that do not comply with these regulations 6% of their annual turnover fines of up to and even an EU-wide temporary ban could be imposed. Thierry Breton, EU Member for Internal Market, stressed that the new rules will ensure that big technology firms cannot “act as if they are not big”.
The new digital service enforcement was implemented earlier this year and all companies were given four months. So they have to fix their operations by the end of August.
What do you think about this subject? You can share your ideas with us in the comments section.