According to CCTV news, 27 Eu member states unanimously approved the Digital Market Law on July 18, local time.
According to the presentation, the law imposes a series of requirements on Internet giants,These include not abusing dominant market position to suppress or acquire competitors, not forcing users to push advertisements or install software without their permission, and not using the collected user data for other purposes.
Companies that break the rules can be fined a hefty 10 per cent of their annual turnover.
The law was first proposed by the European Commission in December 2020,Eu member states agreed on the law last November after a year of negotiations。
The next step will be for the President of the European Council and the President of the European Parliament to sign the law, which will then come into force six months after the publication of the EU Communique. The digital Services Law is expected to be approved by EU member states in September.
It is learnt that on May 5, the European Parliament voted to adopt the Digital Market Law and digital Services Law by an overwhelming majority. The two laws will take effect around January 2024,It is thought to be aimed mainly at Us Internet giants such as Google, Apple and Amazon.