Big Tech now regulated like banks, says EU antitrust chief

Big Tech companies will be regulated like banks as the EU adopts landmark digital law, the Digital Markets Act, says EU competition chief Margrethe Vestager. — REUTERS

Big Tech companies will be regulated like banks, a top EU official said on Friday, as a new landmark digital law was hailed as Europe's long overdue counterweight to Google, Meta and Amazon.

"For companies that play a role as gatekeepers, the Digital Markets Act (DMA) will (now) set the rules of the game," the EU's competition chief Margrethe Vestager told reporters hours after the law was approved.