European Union countries and EU lawmakers on Saturday reached an agreement on new rules requiring tech giants to do more to monitor illegal content on their platforms and pay fees to regulators who monitor compliance.
The deal was reached after more than 16 hours of negotiations. The Digital Services Act (DSA) is the second step in EU Antitrust Chief Margrethe Vestager's strategy to control units of Alphabet, Google, Meta and other US tech giants.
"We have an agreement at DSA: The Digital Services Act will ensure that what is illegal offline is also seen and handled as illegal online, not just as a slogan, but as reality," Vestager said in a tweet.
Under the DSA, tech companies will face fines of up to 6% of their global turnover for breaking the rules. While repeated violations could result in the company being barred from doing business in the EU.
The new rules prohibit advertising directed at children or based on sensitive data such as religion, gender, race and political opinion. Dark patterns, which are tactics that mislead people into providing personal data to companies online, will also be banned.
The company will also cover an annual fee of up to 0.05% of annual worldwide revenue, to cover the costs of monitoring compliance in the EU.
The bloc, which consists of 27 countries and members of parliament in the European region, has since last month endorsed a rule called the Digital Markets Act (DMA), which could force Google, Amazon, Apple, Meta and Microsoft to change their core business practices in Europe.
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