Public Management

U.S. Congress passes rule to regulate tech giants

U.S. Congress passes rule to regulate tech giants
Monday, 28 June 2021 14:35

The Big Tech has never risked more than fines or lawsuits for its excessive dominance over tech markets. This time, "America has had enough," Congressman David Cicilline told his peers on Wednesday, June 23.

A U.S. congressional committee approved, Thursday, June 24, after a session of about 30 hours, a bill to better regulate the activities of tech giants mainly the GAFAM (Google, Apple, Facebook, Amazon, Microsoft).

Big win for consumers, workers, and small businesses!” Democrat David Cicilline, chairman of the subcommittee on antitrust, tweeted. The anti-monopoly law, which covers 6 measures concerning the ownership of user data and the means to foster competition, still has to pass before the House of Representatives. If approved, the rule could change the current face of a market strongly dominated by GAFAM, and even open the way to future dismantling of these behemoths.

For Republican Kenneth Buck, who agrees with the Democrats in this venture, this project will free the digital marketplace from the grip of the all-powerful tech industry. The reform seeks to keep an eye on the stranglehold of big tech companies on their sales platforms, where they have full power. This is the case for Amazon, to name but one, which sells its products on its e-commerce site, while setting the rules for other competing companies on it. It is this abusive monopolistic hold that some American congressmen, mostly Democrats, want to limit.

This dual role of dominant platforms creates irreconcilable conflicts of interest and the bill would solve the problem by forcing them to choose between being a platform or marketing products and services on a platform,” explained David Cicillin.

Sèna D. B. de Sodji

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing package to Invictus Investment Company PLC (ADX:...
Burkina Faso restructures public funds into four targeted financing mechanisms New funds aim to streamline spending, improve oversight, and reduce...
Zenith Bank explores East African expansion, holds talks with regulators Denies reports of confirmed Paramount Bank acquisition in...
Cameroon backed $44.9M in BDEAC loans to three private firms Treasury guarantees cover 50% of loans for hotel, plant, logistics projects...
Most Read
01

DRC minister visited Huawei China center to boost AI training cooperation Talks focused on launch...

DRC, Eyeing AI for Farms and Mines, Seeks to Launch Academy with China’s Huawei
02

China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...

South Africa Loses More Support as Xi Jinping Also Skips the G20 Summit
03

After two years of limited testing, WhatsApp will soon let users and businesses hide their phone num...

WhatsApp to Launch Usernames in 2026, Changing How Customers Reach Businesses
04

Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...

Nestlé Faces New Claims of Excess Sugar in African Baby Cereals
05

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.