Asian countries are imposing stricter regulations on Big Tech

Governments in Asia-Pacific are tightening regulations on big tech. Japan focuses on algorithm transparency, South Korea on e-commerce, and Australia on digital payments.

 Electronics, Mobile Phone, Phone, Iphone

Governments across the Asia-Pacific (APAC) region are intensifying regulations on big tech companies to address their market dominance. In Japan, Prime Minister Fumio Kishida’s cabinet has approved new legislation to prevent major online platforms from hindering competition by implementing measures for transparency in algorithms and data usage. Similarly, South Korea is preparing regulations for e-commerce, streaming services, and social media to ensure fair competition and consumer protection, emphasising data transparency and penalties for anti-competitive practices. Meanwhile, in Australia, efforts are focused on regulating digital payments and enforcing existing rules, with upcoming legislation set to impose new obligations on social media companies for content moderation and user privacy.

In the United States, while social video advertising expenditure continues to climb, the rate of growth is showing signs of moderation. Despite this, social video ad spending is projected to surpass that of linear TV ads by 2025. Concurrently, Reddit has taken steps to address concerns about user privacy by implementing a new Public Content Policy. This policy aims to strike a balance between licensing its content to larger tech companies and safeguarding the privacy of its users, reflecting a broader industry-wide effort to navigate the complexities of data sharing and user privacy in the digital age.