The Digital Markets Act is one of the two antitrust legislations aimed to limit the reach of Google, Apple, and other big tech companies.
The European Union has been heavily scrutinizing big tech companies, including Apple, Google, Amazon, in the past few years. And now it seems it is really trying to reach a deal with EU lawmakers in order to rein in such big tech giants by the end of March,The Digital Markets Act is a proposal that looks into giving smaller companies more competitive power in comparison to big tech giants such as Apple, Amazon, Google, and Meta.
The Digital Markets Act aims to create a competition-friendly environment in, well, digital markets. Measures included in the Digital Markets Act include forcing Apple and Google to allow users to uninstall pre-installed apps on their devices, as well as forcing them to eliminate self-preferencing in search results. On top of that, these companies should provide more transparency over advertising metrics.
She also added that if this happens, the Act would be legislation"with almost the speed of lightning". For those of you who are curious, the Act was introduced back in 2020, alongside another antitrust proposal, called the Digital Services Act, which addresses how big content sharing platforms manage illegal and harmful content, and requires them to moderate such content quickly.
On the other hand, back in Europe, the Digital Services Act, as is believed by European Parliament officials, could reach a deal with EU lawmakers by the end of June, so things are speeding up there as well.
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