EU may bar US tech firms from EU financial-data system as Apple loses DMA appeal
EU may bar US tech firms from a new financial-data sharing system as Apple loses DMA appeal Recent reports indicate that US tech giants — including Apple, Meta, Google and Amazon — could be denied access to a forthcoming European Union system for sharing financial data. This comes amid continued regulatory pressure on large platforms operating in Europe. Apple and the DMA Apple has recently lost its appeal against the EU’s Digital Markets Act (DMA) interoperability obligations. The ruling means Apple must comply with measures designed to increase interoperability between dominant platforms and third-party services. Apple argued the rules threaten user privacy, security and innovation; EU regulators say the rules protect competition and consumer choice. What’s at stake Data access: Denying access to the new EU financial-data system would limit…
