Eu Data Act News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Data Act is a Regulation; this means that it’s now law in all EU countries, and country-specific amendments aren’t permitted.

The EU has agreed on the Data Act, which gives individuals and businesses more control over their data generated by smart gadgets and other consumer products, while curbing the power of US tech giants.

This aims to curb the power of tech companies in the United States to help the EU to achieve its digital and green efforts.

German tech giants SAP and Siemens have joined their US counterparts in raising their voices against the proposed EU Data Act. The law, which aims to tackle the tech industry's monopolistic powers and support the EU's digital and green goals, includes a provision that demands companies to share their data with third parties.  However, the German tech giants fear that such an act could spill their trade secrets and shatter Europe's competitiveness.

EC adopted a Proposal for a Regulation designed to harmonize rules on the fair access to and use of data generated in the EU. The Act is intended to ensure fairness, stimulate a competitive data market, open innovation opportunities and make data accessible.