On Thursday, March 25, 2022, the European Parliament and EU Member States reached agreement on the final text of the Digital Markets Act (DMA).
The DMA marks a paradigm shift in the regulation of digital markets, giving the European Commission unprecedented powers to regulate leading digital platforms and setting a global standard for other jurisdictions that are developing similar rules. It is the most notable of a wave of new regulation in the US, UK, Europe, and Asia because of its geographic reach, the broad scope of its rules, and the severe consequences of non-compliance.
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