New Digital Platform Commission: Oversight and Regulation for Tech Giants
This bill establishes a new Federal Digital Platform Commission to oversee and regulate large online platforms. The goal is to protect citizens from harmful practices, ensure fair competition, and promote transparency in algorithmic operations, impacting data security, access to information, and online service quality.
Key points
Creation of a new federal agency to regulate large digital platforms, such as social media and search engines.
Introduction of transparency rules for algorithms and recommendation systems to ensure fairness and safety.
Ability to impose financial penalties on platforms for violations, with a maximum cap of 15% of annual global revenue.
Establishment of a Code Council, comprising platform representatives, public interest groups, and experts, to propose standards and policies.
Requirement for platforms to submit regular reports on their societal impact and actions taken to mitigate harmful content.
Facilitation of data access for vetted researchers to conduct public interest studies, while protecting user privacy.
Expired
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