December 15 British media reported that according to the new EU regulations announced on Tuesday (15th), American technology giants such as Amazon, Apple, Facebook and Alphabet subsidiary Google may have to change their business model in Europe, otherwise face high fines of 6% to 10% of turnover.
According to Reuters, the two draft laws are the Digital Market Act and the Digital Services Act. The former requires a fine of up to 10% of annual turnover on online monitors who violate the new rules.
The bill also lists what platform operators must and must not do. The latter also sets rules for large online platforms with more than 45 million users.
Operators are required to monitor illegal content on the platform, such as abuse of the platform to violate the fundamental rights of citizens, deliberately manipulate the platform to affect public affairs and public health.
The draft rules need to be consistent with the requirements of EU countries and EU parliamentarians. Some of these countries and parliamentarians have called for the promotion of stricter laws, while others are concerned about the expansion of regulation and the impact on innovation. According to the report, the final draft is expected to be adopted in the next few months.