Europe Crackdown on Big Tech: An Era of Heavy Fines and Scrutiny
European regulators have intensified their scrutiny of Big Tech, launching numerous investigations under the Digital Services and Markets Acts. This includes hefty fines for companies like Apple, Meta, and Google, as well as ongoing probes into their business practices to ensure fair competition across the EU market.
European regulators are ramping up their efforts to regulate Big Tech companies, undertaking a series of high-profile investigations aimed at enforcing compliance with the Digital Services Act (DSA) and the Digital Markets Act (DMA).
TikTok's owner, ByteDance, and Meta are among those facing scrutiny, with ByteDance potentially facing fines of up to 6% of its global turnover for failing to adhere to the DSA. The European Commission has also recently charged Microsoft with illegal business practices, demonstrating its commitment to enforcing antitrust regulations.
Furthermore, tech giants including Google, Apple, and Amazon are being closely watched for compliance with the DMA, which seeks to level the playing field for smaller competitors. Despite appeals and legal battles from these companies, the EU remains resolute in its mission to curb the monopolistic tendencies of the tech sector.
(With inputs from agencies.)
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