Japan to Reinforce Regulations on Tech Giants to Ensure Transparency

Japan, Facebook, Google, Amazon, Small businesses, Tech Giants, Market advantages
Japan to Reinforce Regulations on Tech Giants to Ensure Transparency

On Tuesday, Japan announced its plan to tighten law and regulation to prevent Facebook, Google, Amazon, and others from misusing their market advantages. It is to reduce the unfair advantages and power of the tech giants’ unethical control over small businesses.

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The new regulation would require them to disclose the terms of operations and contracts with customers to the government. Facebook and Google have already expressed their disagreement with the new law.

Economy Minister Yasutoshi Nishimura said, “We want to put the new law into effect in the way that would make business transactions become transparent without imposing excessive burdens or hampering innovation.”

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Source: https://www.reuters.com/article/us-japan-tech-regulations/japan-to-tighten-screws-on-tech-giants-to-ensure-transparency-idUSKBN1YL0TI

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