The European Union has reached an agreement on the adoption of the Digital Services Act (DSA), aimed at increasing the responsibility of tech giants in matters of recommendation algorithms and targeted advertising.
The final text of the law has not yet been published, but the European Commission has revealed its key details.
DSA pays the greatest attention to large platforms that have at least 45 million users in the EU. This group includes companies like Meta and Google.
The document prohibits targeted advertising based on religion, sexual orientation, ethnicity or political affiliation. Companies also cannot show personalized ads to minors.
Online platforms like Facebook will be obliged to disclose information about the operation of content display systems to users. They should offer alternative systems "not based on profiling". This means that major social networks will return chronological methods of displaying content.
Some tech giants will have to share "key" data with verified researchers and non-governmental organizations so that they can assess the "development of online risks."
For non-compliance with the rules, the company can be fined up to 6% of its global turnover.
According to European Commission President Ursula von der Leyen, the agreement reached is historic in terms of speed and content.
"This ensures that the online environment remains a safe space, guaranteeing freedom of expression and opportunities for digital business," she said.
Google supported the bill and expressed readiness to participate in the development of the final text.
"We welcome DSA's goals to make the Internet safer, more transparent and accountable, and to ensure that European users, creators and companies continue to benefit from an open network," the company said.
The bill will enter into force 15 months after the vote, but no later than January 1, 2024.
Earlier, the European Parliament approved the initial draft law banning certain types of personalized advertising.