. The legislation will start being applicable in May 2023 but companies will have until early 2024 to actually comply. Companies that will be subjected to the law are those that have a valuation of at least EUR75 billion and have a minimum of 45 million monthly users in the EU. Failure to comply could result in penalties amounting to 10% of a firm’s worldwide turnover and up to 20% for repeated infringements.
The act mandates that companies that fall under its purview allow the installation of third-party apps and allow users to change default settings with ease. Interestingly, it also requires messaging apps to work together, putting up the possibility of popular messaging services such as WhatsApp, Signal, and others becoming interoperable.
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