By 
U.K. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms. That new division will fall under the country’s Competition and Markets Authority (CMA).
The rules, which are set to take effect in the spring, will provide consumers with the right to opt out of tailored advertising and make firms share more about the way in which they harness consumer data, among other elements.
“Millions of people share creative content or advertise their small business’ goods online,” the British government said in a press release. “But there is growing consensus in the U.K. and abroad that the concentration of power amongst a small number of tech companies is curtailing growth in the tech sector, reducing innovation and potentially having negative impacts on the people and businesses that rely on them.”
According to the U.K. government, the digital industry contributed almost 150 billion pounds (roughly $201 billion) to the country’s economy in 2018.
Comments