Earlier, it was announced that the Law on Digital Markets will enter into force in October.
Many significant changes by the end of 2023
The European Union aims to start implementing the Digital Markets Act (DMA) in the spring of 2023, Executive Vice President Margrethe Vestager announced at a conference of the International Competition Network (ICN) last week. Margrethe Vestager said earlier that antitrust legislation, which introduces a new set of rules to curb the power of the Big Tech-a, could be applied as early as October this year.
“The DMA will take effect next spring and we are preparing to implement it as soon as the first notifications arrive,” she said. Vestager-ova during his speech at ICN. According to reports TechCrunch-ashe suggests that the Commission will be ready to react against any violations committed by large technology companies such as Meta, Apple, Google, Microsoft and Amazon.
The DMA, which is awaiting final approval by the Council and Parliament, defines Big Tech as a company with a market capitalization of over 75 billion euros and have a social platform or application that has the least 45 million users per month. These companies could face fines of “up to 10 percent of their total world turnover in the previous fiscal year.” Also, if they are found to be violating DMA rules, the penalty could be increased to 20 percent in the case of a repeat offense.
According to the DMA, companies will have three months to report their status to the Commission, followed by a waiting period of up to two months to receive confirmation from the EU. This waiting period, together with the delayed implementation of the DMA, could mean that we will not see the first problems between the EU and Big Tech until the end of 2023.
“This next chapter is exciting. That means a lot of concrete preparations, “she explained Vestager-ova. “It is about establishing new structures. It is also about hiring staff. It is about preparing an IT system. It is about drafting additional legal texts on procedures or notification forms. Our teams are currently busy with all these preparations and our goal is to come out with new structures soon. ”
Delays in the implementation of the DMA could give the Commission more time to prepare. Also, the delay could serve as a criticism if the Commission does not respond to any major violations that have occurred from now until the DMA receives official application.
Once adopted, the DMA will likely to disrupt business models used by global technology giants. First, it could happen that Apple starts allowing users to download applications from outside App Store-awhich is an idea opposed by the CEO Apple-a, Tim Cook is adamantly opposed. He claims that external loading could “destroy” security iPhone-a.
Other requirements could be for WhatsApp and iMessage to become interoperable with smaller platforms. Such a policy can make it difficult WhatsApp-u end-to-end encryption control.
Source: The Verge
Source: PC Press by pcpress.rs.
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