Seven major tech companies have registered their names to serve as gatekeepers below Digital Markets Act (DMA).
The European Union (EU) has launched regulations that could change the way large technology platforms operate and compete in the digital sector. The regulation, known as DMA, targets the so-called “gatekeepers”, platforms that have a significant impact on the internal EU market and act as intermediaries for millions of users and businesses.
European DMAs have stepped in since May and imposed a series of obligations and restrictions on gatekeepers, such as not endorsing their own services, allowing users to uninstall pre-installed apps, and sharing data with competitors. The DMA also empowers the European Commission to fine up to 10% of a gatekeeper’s annual income, or even dissolve or ban companies that repeatedly break the rules.
However, a key deadline has just passed for the world’s largest technology platform companies to notify the EU that they are the gatekeepers under the DMA. According to the statement published by EU Commissioner Thierry Bretonseven companies have officially acknowledged they meet the criteria: Alphabet (Google), Amazon, Apple, ByteDance (TikTok), Meta (Facebook, Instagram, Whatsapp), Microsoft, and Samsung.
Big Tech Gate Keeps Under DMA
According to the EU, gatekeepers are: “Several large online platforms act as “gatekeepers” in digital markets. The Digital Markets Act aims to ensure that these platforms behave fairly online. Together with the Digital Services Act, the Digital Markets Act is one of the core of Europe’s digital strategy.”
The companies on the market list have a market capitalization of over €75 billion ($82 billion) and have a social platform or app that has at least 45 million monthly users or 10,000 active business users. certain platform services by September 6”, and after that, the company has only six months to comply with the DMA rules.
DMA could have far-reaching implications for some of the world’s largest technology companies, which have been accused of abusing their market power and stifling competition. DMA is a significant step forward in the EU’s efforts to regulate the technology industry.
The bloc is also taking a similar tough stance on artificial intelligence with the AI Act. It remains to be seen how effective the law will be in curbing the power of big tech companies, but it is a clear signal that the EU is determined to hold these companies accountable.
Obligations of the Big Tech Gatekeepers Under the DMA
Provide interoperability between their platforms. This means that users should be able to easily move their data and content from one platform to another. Allow third-party app stores and payment systems on their devices. This will give users more choice and control over how they interact with their devices. Do not handpick their own products and services. This means that gatekeepers must not give their own products and services an unfair advantage over those of their competitors. Reveals more information about their algorithm. This will help users to understand how their data is used and to make more informed choices about how they interact with the platform.
Thus the article about Microsoft Joins Major Tech Rivals to Become “Gatekeeper” Platform for European DMA Law
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