Big tech giants will now have to police illegal content on their social media platforms more actively and robustly.
The European Union's 27 member states and EU lawmakers reached a landmark deal on the Digital Services Act early Saturday morning aimed at tackling hate speech, disinformation, and harmful online content.
It means if firms such as Google, Amazon, and Facebook fail to comply with the new set of regulations, they could be fined up to 6% of the firm's global annual revenue.
The law is expected to come into force as early as 2024.
Large online platforms with more than 45 million active users per month are affected by the act, which also applies to companies based outside of the EU if they provide services in the single market.
These new rules are designed to protect internet users, make tech companies more accountable for the content, particularly with content amplified by algorithms, and will ban ads that target minors.