The EU Digital Markets Act and what it means for ‘big tech’ | World ...
Sep 19, 2023 · The European Union’s new Digital Markets Act (DMA) aims to regulate the power of big tech companies like Google, Facebook and Amazon, with significant fines for non-compliance. The DMA sets obligations for these digital ‘gatekeepers’ to ensure fair competition, including not favouring their own services, sharing data with third parties ...
EU's Digital Markets Act has big implications for 'Big Tech'
Nov 10, 2022 · The Digital Markets Act introduces rules for platforms that act as ‘gatekeepers’ in the digital sector. These are platforms that have a significant impact on the internal market, serve as an important gateway for business users to reach their end users, and which enjoy, or will foreseeably enjoy, an entrenched and durable position.
What does the EU’s new Digital Markets Act mean for big tech?
The Digital Markets Act (DMA) came into force in May 2023, and the gatekeepers, the companies that will be subject to the strictest rules, were finalized in September 2023. The gatekeepers have until March 2024 to comply with the rules and could be fined up to 10% of their turnover if …
Metaverse interoperability is essential. How will regulation play a ...
Aug 6, 2024 · Regulation, such as the European Commission's Digital Markets Act, can indicate how to balance these priorities. The metaverse is a convergent technology space increasingly leveraging developments in XR, AI, IoT, and blockchain to usher in the next era of the internet.
What is tech diplomacy and why does it matter? - The World …
Feb 23, 2023 · For De Graaf – who oversaw both the EU’s Digital Markets Act (DMA) and the Digital Services Act (DSA), designed respectively to protect smaller businesses and ensure companies combat harmful content online – having a tech diplomat in the area is now essential.
How are crypto regulations changing around the world? | World …
May 2, 2024 · The Cryptoassets Act sets rules for any company providing services linked to virtual assets, with a central aim of preventing scams related to cryptocurrency. The regulation outlines what constitutes criminal practices in the use of crypto, and outlines penalties that will be enforced if crypto is used in fraud or money laundering.
Digital assets economy: How financial markets are accelerating …
May 25, 2022 · And today, we’re using distributed ledger technology, application programming interfaces and cloud to varying degrees in projects ranging from a prototype to explore how CBDC might operate in US clearing and settlement, to a Digital Securities Management platform to create infrastructure and standards for private markets, and the ION platform ...
What impact will the EU Data Act have on the digital economy?
Mar 9, 2022 · The European Commission has recently proposed the first draft of a new Data Act to unlock the value of data generated by connected objects in Europe. The Data Act proposal is a key part of the European strategy for data. This legislation aims at removing barriers to access data while preserving incentives to invest in data generation.
To regulate digital platforms in the future, we should look to the …
May 8, 2019 · The Case for the Digital Platform Act: Market Structure and Regulation of Digital Platforms looks at the last 150 years of regulating telecommunications and electronic media to provide guidance on how we can regulate digital platforms in a manner consistent with our enduring values as a democratic society, by striking the proper balance between ...
How countries are navigating uncertainty of digital asset …
Oct 4, 2024 · The World Economic Forum has released a new report, Digital Assets Regulation: Insights from Jurisdictional Approaches, on how different countries regulate digital assets. Countries are taking divergent approaches to digital asset regulation and have different timelines for their creation and implementation.