The European Union has recently launched DMA, or Digital Markets Act which means that companies such as Google and Apple will have to offer alternative payment systems and app stores.
Full details surrounding the Digital Markets Act have been published after the program was discussed by the region’s Commission, Council and Parliament on March 24. Margrethe Vestager, antitrust chief says that the process to enact the proposal into law will be ‘really fast’ with legislation expected to come into play in October.
In her speech, Vestager says that ‘a fair marketplace is part of every democracy’ and the steps the union took were to make sure that the existing digital marketplace is fair for every consumer. Notable inclusions were interoperability among messaging services and banning data collection where targeted advertising is concerned.
Finalizing of the DMA legal text is yet to be finalized, and it’s likely that it will be enacted in 2023. Both the EU Council and Parliament votes are required for it to take effect.