By PYMNTS
When the Senate Judiciary Committee voted last Thursday to advance the American Innovation and Choice Online Act, a bipartisan antitrust bill, it set the path for the bill to potentially be adopted by the full Senate. While this is probably the biggest regulatory threat for Google, Amazon, Apple and Meta right now, there are two other bills that may have a significant impact on Big Tech: the Open App Market Act and the Digital Markets Act in Europe. Other regulatory initiatives in the U.S. and Europe also represent a regulatory threat. Here’s a breakdown of the top regulatory threats to Big Tech.
United States Senate — American Innovation and Choice Online Act
This bill aims at preventing Big Tech firms from favoring their own services over others. This bill would make it unlawful to unfairly preference a platform’s own products, services or lines of businesses over those of another business user and to limit the ability of another business user’s products or services to compete on the platform.
The Senate Judiciary Committee voted 16-6 to advance the bill, but before it reaches the senate floor for a vote, it will likely be amended. The bill was already amended before the committee vote to ensure that it would be applicable to non-U.S. firms like TikTok. Senators have already offered over 100 amendments, and these will need to be discussed before a vote.
