On July 18th, according to CCTV news reports, on the 18th local time, the 27 member states of the European Union unanimously approved the “Digital Market Law”. According to reports, the law imposes a series of requirements on Internet giants, including not abusing their dominant market position to suppress or acquire competitors, not forcibly pushing advertisements or installing software without users’ permission, not using collected user data for other purposes, etc. . If a company violates the rules, it will be subject to a hefty fine equal to 10% of the company’s annual turnover. The law was originally proposed by the European Commission in December 2020, and last November EU member states agreed on the legal text after a year of negotiations. In the next step, the President of the European Council and the President of the European Parliament will respectively sign the law, which will then enter into force six months after the publication of the EU communiqué. The Digital Services Act is expected to be ratified by EU member states in September this year. It is understood that on the 5th of this month, the European Parliament voted overwhelmingly to pass the Digital Markets Law and the Digital Services Law. The two laws, which will take effect around January 2024, are thought to be aimed primarily at US internet giants such as Google, Apple and Amazon. .
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