The week started with the prospect of an executive order by President Joe Biden to regulate cryptocurrencies that could trigger new regulation from different federal agencies and lawmakers. Yet, the turn of events with the military conflict in Ukraine will likely delay this executive order.
On Wednesday (Feb. 23), the European Commission released its long-awaited Data Act, with a legislative proposal that could force U.S. tech companies to share more data with EU counterparts and with European consumers. The same day, U.S. lawmakers urged President Biden to talk to EU leaders to introduce last-minute changes in the Digital Markets Act, which in their view “unfairly” target U.S. tech companies.
On autonomous cars, Tesla is adding more regulatory headwinds in Germany where regulators are investigating an autopilot feature. In the U.S., autonomous car developers are taking advantage of Nevada’s law to deploy new innovations while the federal government take a decision whether to introduce federal legislation.
Biden’s Executive Order May Trigger Crypto Regulatory Spree
U.S. President Joe Biden’s executive order on crypto assets may be pushed back due to recent events in Ukraine. The executive order reportedly will direct a wide range of government agencies to study cryptocurrency and central bank digital currency (CBDC) to design a comprehensive strategy. Some of the agencies that will likely be asked to prepare a report include the Departments of Treasury, State, Justice and Homeland Security.
EU’s New Data Act May Compel US Firms To Share More Data
The proposed Data Act is the second main legislative initiative resulting from the European strategy for data that intends to boost the European Union’s leadership in the regulation of the data-driven society.
While the proposed rules are not indented to limit the capacity of Big Tech companies to collect data generated in Europe, these rules may oblige them to share more data with EU firms and consumers.
The proposed rules will need to be debated in the EU Parliament, where lawmakers could introduce amendments to the text. The final text won’t likely enter into force until 2023.
US Lawmakers Urge Biden to Persuade EU to Change Digital Markets Act
A bipartisan group of 30 lawmakers sent a letter to President Joe Biden urging him to talk to EU leaders and persuade them to change the proposed Digital Markets Act (DMA), as in their view it “unfairly” targets U.S. tech companies.
The DMA aims at tackling competition concerns with digital platforms. The proposed law establishes a list of activities that Big Tech companies must do or must refrain from doing, including self-preferencing of products in their own platforms, or opening up app stores.
While the DMA is not targeting only U.S. companies, as it includes all the digital platforms that meet certain criteria in terms of revenue and users, Amazon, Google, Microsoft, Meta and Apple will likely be the first companies affected by the law.
Tesla’s Autopilot Feature Faces Regulatory Headwinds in Germany
The electric vehicle manufacturer is facing a review by the German Federal Motor Transport Authority (KBA) over the carmaker’s automated lane-change function and whether it is approved for use in Europe.
This is the latest pushback the company has experienced in Europe, compounding Tesla’s problems in Germany. The company planned to start operating its Gigafactory last summer, and suffered several delays due to ongoing safety precaution examinations. According to local media, Tesla could get the official green light to begin production in March if it gets the factory’s approval.
Driverless Car Developers Benefit From Nevada Law Until Federal Law is in Place
Motional, an Aptiv-Hyundai joint venture, will start offering free robotaxi services in Las Vegas. This is possible, at least partially, thanks to the autonomous vehicle (AV) friendly regulation in this state. Nevada has been one of the strongest supporters of autonomous vehicles (AV) by permitting firms to conduct testing in real-world settings that is not permitted anywhere else in the country.
This is in stark contrast with the situation at the federal level, where there is no regulation, and there are only timid efforts to pass new legislation in this regard.
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