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
Zambia's stock index gained 14.3% in August and 56% YTD, driven by strong copper prices. Copperbelt Energy has maintained a market capitalization of...
Guaranty Trust Holding Company Plc (GTCO) has injected N365.9 billion ($238.5 million) into its subsidiary, Guaranty Trust Bank Limited (GTBank), to...
IFC may grant up to $20 million to CBI Ghana for a low-carbon cement plant in Tema. The $66.7 million project includes global investors...
Banque Agricole du Sénégal is raising CFA80 billion ($142 million) through a securitized bond. The offer includes a 7-year tranche A at 8% and...
Most Read
01

It’s a common scene in any Lomé (Togo) market, but it’s telling. A customer hands a 10,000 CFA franc...

The Change Shortage: A Crisis Hidden by the CFA Franc’s Stability
02

Egypt’s handset market is projected to leap from $2.5 billion in 2025 to $4.8 billion by...

Egypt’s $2.5B-to-$4.8B Smartphone Surge Set to Reshape Africa’s Tech Map by 2031
03

Burkina Faso ends Target Malaria, a GMO mosquito project funded by the Gates Foundation. The ...

Burkina Faso Halts a Malaria Program Backed by Bill and Melinda Gates Foundation
04

Egypt and UNECA launched a five-day workshop in Cairo to strengthen maritime tax audits and IFRS-b...

Egypt Bolsters Maritime Tax Collection With UN Economic Commission Training
05

Sadot and Vodacom’s MOTI launch Africa’s first telco-powered farm-to-fork app to cut crop losses a...

Sadot, Vodacom-Backed MOTI Launch Africa’s First Telco-Powered Farm-to-Fork App  
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.