Digital Services Act and Digital Markets Act

The Digital Services Act and Digital Markets Act is a landmark legislation from the European Union. The draft legislation gives specific regulations to limit the powers of global internet companies like Google, Apple, Facebook and Amazon in the European market. Under the legislation, the larger firms are designated as ‘digital gatekeepers’ and would be subject to stricter regulations. Violation of competition rules could invite as much as 10% of the firm’s annual turnover.