Fun

EU launches probe into Apple, Google, Meta over violation of Digital Markets Act

News Feed - 2024-03-25 08:03:44

Savannah Fortis12 hours agoEU launches probe into Apple, Google, Meta over violation of Digital Markets ActEU regulators have opened a non-compliance investigation into various marketing and ranking practices of Apple, Google, Meta and Amazon in potential violation of the EU Digital Markets Act.1245 Total views11 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe European Commission has announced a non-compliance investigation into practices of Apple, Meta, Amazon and Alphabet — the parent company of Google — under its Digital Markets Act (DMA). 


According to a statement released on March 25, “the Commission suspects that the measures put in place by these gatekeepers fall short of effective compliance of their obligations under the DMA.”Source: The European Commission


More specifically, the EU antitrust regulators have targeted Alphabet’s rules on “steering” in its Google Play store and self-preferencing on Google Search, Apple"s rules on steering in the App Store and the choice screen for Safari, along with Meta"s “pay or consent model”.


Additionally, the Commission said it is looking into steps relating to Apple’s new fee structure for alternative app stores and Amazon"s ranking practices on its marketplace.


It ordered the companies to keep particular documents to monitor the “effective implementation and compliance” with their obligations.


The proceedings will have 12 months to conclude, and in the case of infringement, fines of up to 10% of the company’s total worldwide turnover could be imposed by the Commission.


It said systematic infringement may oblige the “gatekeeper” to sell off parts of the company or be banned from acquiring additional services.


Related:Data privacy and security concerns worry nearly half of tech industry consumers: Report


The EU’s DMA is a piece of legislation to create “contestable” and fair markets in the digital sector. 


It should serve as a regulator for “gatekeepers,” which it defines as “large digital platforms that provide an important gateway between business users and consumers, whose position can grant them the power to create a bottleneck in the digital economy.”


According to the Commission, Alphabet, Amazon, Apple, ByteDance — TikTok"s parent company — Meta and Microsoft are designated as the six gatekeepers under the DMA.


These companies had until March 7 to fully comply with DMA requirements.


This recent investigation follows a lawsuit filed by the United States Department of Justice (DOJ) on Mar. 21 against Apple, claiming that its app market rules and “monopoly” illegally throttled competition and suffocated innovation.


It also alleges that Apple has a monopoly in the smartphone market and “‘forces’ developers to use its payment system to lock in both developers and users on its platform.”


Magazine:Why boomers ‘like’ AI pics on Facebook, mind-reading AI breakthrough: AI Eye# Apple# Google# Amazon# Business# Europe# European Union# Meta# RegulationAdd reactionAdd reactionRead moreSWIFT declares second sandbox connector tests a success for CBDC and moreDeFi fund, Texas apparel company sue to defend airdrop against SECSEC will ask for $2B in fines and penalties — Ripple chief legal officer

News Feed

Tesla CEO Elon Musk Shares Dogecoin Video — Says It ‘Explains Everything’
Tesla CEO Elon Musk Shares Dogecoin Video — Says It "Explains Everything" Tesla CEO Elon Musk has shared a dogecoin video on Twitter in a conversation about bitcoin mining on Apr
Are ‘ETF Paper Bitcoins’ Suppressing BTC Prices? Analyst Provides Answers
Este artículo también está disponible en español. In a new YouTube video titled “There Is No ETF Paper Bitcoin,” Fred Krueger, an investor at the crypto hedge
Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal
Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal Dmitry Medvedev, former president and prime minister of Russia, has voiced his c
Former White House Senior Advisor David Plouffe Joins Alchemy Pay Advisory Board
Former White House Senior Advisor David Plouffe Joins Alchemy Pay Advisory Board sponsored Serving as a committee member of Alchemy Pay’s management and advisoryboard, and as
Crypto Exchange Bitrue Suffers $23 Million Hack
Crypto Exchange Bitrue Suffers $23 Million Hack Singapore-based crypto exchange Bitrue has lost millions of U.S. dollars’ worth of ether and other coins in a hack. The tradi
Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset
Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset ‘What in the world is going on’ has now become a question of real pertinence
The First of Its Kind Metachain Project, ShuttleOne Joins Tezos Protocol
The First of Its Kind Metachain Project, ShuttleOne Joins Tezos Protocol press release PRESS RELEASE. ShuttleOne, the latest project to embrace Tezos, to soon drive adoption and liq
Technical Analysis: Record Broken, as ANC Falls Over 20% on Sunday
Technical Analysis: Record Broken, as ANC Falls Over 20% on Sunday Following a week-long winning streak, ANC finally fell on Sunday, as crypto bears finally entered the fray. Despi
Swiss Resort Town Zermatt Accepts Bitcoin for Government Services
Swiss Resort Town Zermatt Accepts Bitcoin for Government Services Zermatt, a municipality in Switzerland at the foot of the Matterhorn known for its ski resort, has started accep
Brayden Lindrea4 hours agoAustralian banks claim 40% of scams ‘touch’ crypto as it defends restrictionsDuring a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they ad
Forex Shortages Force Nigerian Corporates to Turn to Parallel Market
Forex Shortages Force Nigerian Corporates to Turn to Parallel Market Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to
Argentinian Government Excludes Crypto Investors From Buying Dollars
Argentinian Government Excludes Crypto Investors From Buying Dollars The Argentinian Central Bank has issued a new set of restrictions that are affecting citizens and companies tha