Titanium Media App reported on July 18 that the 27 EU member states unanimously approved the "Digital Market Law". This law imposes a series of normative requirements on Internet giants classified as “gatekeeper companies”, including not abusing their dominant market position to suppress or acquire competitors, not forcibly pushing advertisements or installing software without users’ permission, and not allowing users of user data for other purposes, etc. Violators will be subject to a hefty fine equal to 10% of the company's annual turnover. The law was originally proposed by the European Commission in December 2020, and last November EU member states agreed on the legal text after a year of negotiations. In March this year, the European Council and the European Parliament reached an agreement on the law. On the 5th of this month, the European Parliament voted overwhelmingly to pass the Digital Markets Act and the Digital Services Act. It was finally unanimously approved by EU member states today. In the next step, the President of the European Council and the President of the European Parliament will respectively sign the law, which will then enter into force six months after the publication of the EU communiqué. The Digital Services Act is expected to be ratified by EU member states in September this year. (Source: CCTV News)
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