The European Union reached an agreement on Saturday on historic legislation that forces Big Tech firms like Google and Facebook parent company Meta, as well as other internet services, to more aggressively combat hate speech and disinformation or risk multi-billion dollar fines.
Under the new Digital Services Act, companies will be required to strictly control their online platforms by putting in place new policies and procedures to quickly remove hate speech, terrorist propaganda and any other content deemed illegal by countries within the European Union.
The new law also bans advertising targeted at minors from these companies' platforms, as well as advertising based on a user's gender, ethnicity or sexual orientation. It will also force the companies to disclose how their services spread or amplify divisive content.
"With today's agreement we ensure that platforms are held accountable for the risks their services may pose to society and citizens," European Commission Vice-President Margrethe Vestager said in a statement.
"The era of large online platforms behaving as if they are 'too big to care' is coming to an end," added EU Internal Market Commissioner Thierry Breton.
The Digital Services Act, half of an overhaul of the 27-nation bloc's digital regulation, is the third major European Union law targeting the tech industry - helping to cement Europe's reputation as a global leader in efforts to curb the power of social media companies and other digital platforms.
While the new rules aim to make tech companies more accountable for user-generated content and reinforced by their platforms' algorithms, online platforms and search engines with more than 45 million users in the European Union will face additional scrutiny, including fines of up to 6 percent of a company's annual global revenue and bans for repeat offenders.
A Google spokesperson told NBC News in a statement that while the company welcomes the European Union's efforts to "make the internet even safer, more transparent, and more accountable," they look forward to "working with policymakers to get the technical details right to make sure the law works for everyone."
"We support this regulation and forward-thinking, which balances the need to address online harm with protecting the Open Internet — while also understanding that a one-size-fits-all approach fails to take into account the diversity of our online environment," a Twitter spokesperson told NBC.
Amazon did not specifically comment on the new Digital Services Act, but said the company welcomes "all measures that contribute to the EU market, increase trust in online services and improve the experience of customers and businesses in Europe."
"While we await the full details of the Digital Services Act, we support its goal of harmonizing the approach to online content issues," a TikTok spokesperson told NBC News in a statement, adding that the company welcomes "the law's focus on transparency as a tool for demonstrating accountability."
Apple, Microsoft and Meta did not immediately respond to requests for comment.
The agreement reached on the landmark new law is now subject to formal approval by the European Council and the European Parliament. If approved, it could enter into force as early as 2024.
(Article published by NBC)