EU Hints at Introduction of Metaverse Regulations and Taxes

European Commission president Ursula von der Leyen signaled the bloc is preparing the implement a regulatory framework for the metaverse, writing in her annual Letter of Intent for the State of the Union address that the Commission will in 2023 advance an “initiative on virtual worlds, such as metaverse.” The EU’s internal market commissioner, Thierry Breton, expanded on that in a blog post that Europe’s “way to foster the virtual worlds” will be threefold, focusing on “people, technologies and infrastructure,” with speculation bubbling that the third prong will involve some sort of carrier tax. Continue reading EU Hints at Introduction of Metaverse Regulations and Taxes

EU’s Cyber Resilience Act Plans to Augment Security for IoT

The European Union has released additional details of its Cyber Resilience Act (CRA), proposed cybersecurity rules initially introduced last year aimed at the growing number of smart devices and the Internet of Things. The goal is to introduce effective regulations that would help curb surging cyberattacks. Major tech companies from Apple to Amazon and LG would need to meet strict new standards in the connected electronics space or face significant fines that could run as high as the greater of $15 million or 2.5 percent of a company’s worldwide revenue. Continue reading EU’s Cyber Resilience Act Plans to Augment Security for IoT

Under Antitrust Scrutiny, Google Could Spinoff Its Adtech Biz

Battling new antitrust action by the U.S. Department of Justice, Google is offering to separate part of its adtech business into a discrete unit. The new Alphabet company would focus on app dissemination and programmatic auctions for advertising space and could potentially be worth billions of dollars. It is not known whether the move would satisfy the DOJ, which is reportedly prepping a fresh antitrust suit in the wake of a 2020 action. Google is also the target of antitrust investigations by state attorneys general and under EU and UK inquiries for anticompetitive measures. Continue reading Under Antitrust Scrutiny, Google Could Spinoff Its Adtech Biz

EU Checks Power of Big Tech with Digital Services Regulation

The European Parliament has adopted two digital acts, one focused on leveling the competitive playing field, the other on protecting consumer rights online. The Digital Markets Act and the Digital Services Act are both expected to take effect this fall, after the European Commission signs off. “We are finally building a single digital market, the most important one in the ‘free world,’” EU commissioner for the internal market Thierry Breton said Tuesday. “The same predictable rules will apply, everywhere in the EU, for our 450 million citizens, bringing everyone a safer and fairer digital space.” Continue reading EU Checks Power of Big Tech with Digital Services Regulation

EU Advances Digital Services Act to Hold Tech Accountable

The European Parliament and EU member states reached agreement Saturday on the proposed Digital Services Act, which aims to hold Big Tech accountable for “illegal and harmful content” and “provide better protection for Internet users and their fundamental rights, as well as define a single set of rules in the internal market.” Calling the DSA “historic, both in terms of speed and of substance,” European Commission President Ursula von der Leyen added, “the greater the size, the greater the responsibilities of online platforms.” Companies like Facebook, YouTube, TikTok and others will be forced to hold the line against dangerous content and misinformation or face stiff fines. Continue reading EU Advances Digital Services Act to Hold Tech Accountable

Data Act Aims to Protect EU Consumers in Smart Device Era

The European Commission has proposed new rules on who can use and access data generated across economic sectors in the European Union. The proposed legislation would require Amazon, Microsoft, Google and other cloud service providers as well as those who harvest data to establish safeguards preventing non-EU governments from illegally accessing EU consumer information. “We want to give consumers and companies even more control over what can be done with their data, clarifying who can access data and on what terms,” said Margrethe Vestager, the EC’s commissioner for competition, in announcing the Data Act. Continue reading Data Act Aims to Protect EU Consumers in Smart Device Era

European Chips Act Aims to Boost Production, EU Tech Role

The European Commission is ramping up to boost microchip production, unveiling the European Chips Act, which proposes to unleash roughly $49 billion in public and private funds for chipmaking. The plan, announced this week, is part of the EU’s effort to regain a degree of commercial independence, and underscores the importance of computer chips to national security, something the Biden administration has also emphasized. The EC proposal reserves for the Commission the right to prioritize specific products under certain circumstances, something the chip foundries of various nations have also been doing. Continue reading European Chips Act Aims to Boost Production, EU Tech Role

EU Asserts Itself on Standards, Takes Position on Ad Consent

The European Commission is seeking a more prominent seat at the regulatory table in the hall where global technology standards are being crafted. Experts periodically confer, beyond public view, to establish rules for emerging technology, and the norms for everything from connectivity to artificial intelligence. Now, EU commissioners are concerned they’ll wind up sidelined as a market-dominant U.S. and emboldened China white-knuckle their way to the lectern when groups like the International Organization for Standardization and the UN’s International Telecommunication Union dictate how technology is to be deployed across the globe. Continue reading EU Asserts Itself on Standards, Takes Position on Ad Consent

FB Whistleblower Testimony Accelerates EU Regulatory Push

Facebook whistleblower Frances Haugen’s meetings with European Union officials have accelerated the lawmakers’ plans to tamp down Big Tech. Officials are calling for quick action to strengthen and enact measures of a 2020 bill that would impose strict obligations on social media companies. As currently drafted the bill would require technology platforms to monitor and mitigate risks from illegal content or suffer stiff fines. Likening Europe to “a digital Wild West,” EU digital commissioner Thierry Breton said, “Speed is everything” and EU members must pass the new tech legislation in the first half of 2022. Continue reading FB Whistleblower Testimony Accelerates EU Regulatory Push

Intel Announces Plans to Build Two Chip Factories in Europe

Intel chief executive Pat Gelsinger announced plans to build two semiconductor factories in Europe valued up to $95 billion, as part of an effort to ease the current worldwide chip shortage. Gelsinger added that Intel could expand the investment over a decade to the equivalent of “as much as €80 billion.” At an auto event in Munich, Gelsinger said, “this new era of sustained demand for semiconductors needs bold, big thinking.” Meanwhile, Taiwan Semiconductor Manufacturing Co. also plans to spend $100 billion in the next three years to increase chip production and Samsung is making similar moves. Continue reading Intel Announces Plans to Build Two Chip Factories in Europe

Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

Intel chief executive Pat Gelsinger and board members met with the Biden administration to promote his company’s plan to build more semiconductor factories with subsidies from the U.S. government. Currently, Asian-owned chip factories, which receive hefty incentives, dominate chip production. There’s also an “unprecedented” global shortage of chips, which is impacting the auto and consumer appliance industries. Gelsinger was hired this year to improve the fortunes of the beleaguered Intel. Continue reading Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

European Union Plans Framework for Secure Digital Identities

The European Commission, the executive branch of the European Union, announced a proposal yesterday to create a European Digital Identity system that would “be available to all EU citizens, residents and businesses in the EU.” The goal is to enable citizens who are interested “to prove their identity and share electronic documents from their European Digital Identity wallets with the click of a button on their phone.” In addition, these citizens would “be able to access online services with their national digital identification,” that would be recognized throughout European Union’s Member States. Continue reading European Union Plans Framework for Secure Digital Identities

Intel Plans to Build Semiconductor Fabs to Reverse Shortage

New Intel chief executive officer Pat Gelsinger stated that it will take “at least several months” to “ease the strain” of the current global chip shortage, which is impacting an array of industries. In a “60 Minutes” interview, Gelsinger added that it would take “a couple of years” to catch up to demand that was amplified by the COVID-19 pandemic and subsequent increased sales of electronics. He added that U.S. companies produce a mere 12 percent of the world’s semiconductor chips, down from 37 percent 25 years ago. Continue reading Intel Plans to Build Semiconductor Fabs to Reverse Shortage

European Union Earmarks $150 Billion for New Tech Initiatives

As part of a $2 trillion recovery package, the European Union is investing $150+ billion in “Digital Compass” to boost advanced technologies and narrow the gap with the U.S. and Asia. One goal is to produce at least 20 percent of the world’s semiconductors by 2030. In 2020, said the European Commission, the EU produced 10 percent. In 2019, the EU debuted a public-private cloud-computing project, Gaia-X to increase self-reliance and, in 2017, the European Battery Alliance to develop electricity-storage technologies. Continue reading European Union Earmarks $150 Billion for New Tech Initiatives

European Union Plans to Announce Regulations for Big Tech

On December 2, European Commission EVP and commissioner for competition Margrethe Vestager and European commissioner for internal market Thierry Breton plan to announce the new rules governing powerful online companies. Among the draft rules of the Digital Services Act and Digital Markets Act, Big Tech companies will have to share data with rivals and regulators. Alphabet chief executive Sundar Pichai also apologized to Breton over a leaked document revealing his company’s proposed tactics against the European Union’s new, tougher rules. Continue reading European Union Plans to Announce Regulations for Big Tech