"Tech Giants Adapt to EU Digital Markets Act: What You Need to Know"

1 min read
Source: The Verge
"Tech Giants Adapt to EU Digital Markets Act: What You Need to Know"
Photo: The Verge
TL;DR Summary

The European Union's Digital Markets Act (DMA) is set to go into effect, requiring tech giants like Alphabet, Apple, Meta, Amazon, Microsoft, and ByteDance to comply with new competition rules by March 6th. The rules aim to promote fair and open digital markets by requiring gatekeepers to allow more interoperability and avoid favoring their own digital services. Each designated company has announced various changes to meet the demands, such as offering choice screens, supporting third-party app stores, and improving data portability. The DMA's restrictions apply to specific services within these companies, and failure to comply can result in fines of up to 10 percent of global revenue.

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