A lot has happened this week. The EU(European Union) signed two papers, the Digital Services Act (DSA) and the Digital Markets Act (DMA that hold the future of GAFAM(Google, Apple, Facebook, Amazon, and Microsoft) precisely their digital legislation in the European Union countries. This new legislation is intended to tackle better GAFAM and other prominent names in the digital realm.
The DSA, the first of the two papers, goes into great depth about content moderation as it flows through the leading platforms. With the latter, Europe hopes to provide new safeguards and assurances for EU users across the board, whether content regulation or online transaction security. On the other hand, the DSA should step up its efforts to combat unlawful content and fraud, requiring platforms to apply necessary measures to control content like hate speech, targeted advertising, misleading information, and counterfeiting.
The European Union’s goal is to put the big platforms in front of their duties, not assume control. If the DMA is enacted, it will be feasible to penalize these giant corporations’ anticompetitive behavior. Europe would be the first region to adopt this new regulatory framework, which would be aimed at players that had exploited their dominating position. The DMA would provide Europe and national regulators with a slew of fines while also putting a slew of requirements on the industry’s behemoths.