Compare with different regulatory event:
The Platform Competition and Opportunity Act of 2021 is introduced to the House (H.R. 3826), restricting platforms in the acquisition of competitors in their line of business. Under the bill, designated platform operators must prove that an acquisition is not a direct competitor, even if only a nascent one, nor that the acquisition would enhance the platform operator's market position or the defensibility of it. Importantly, additional data that comes with an acquisition can increase the market position of a platform and can lead to the restriction of the transaction. The platforms covered under this bill would be designated by the Federal Trade Commission (FTC) or the Department of Justice (DOJ). Criteria for the designation include platforms with more than 50 million US-based users, more than 100'000 US-based business users, a market capitalization of more than USD 600 billion or a critical trading partner for any good sold via its platform. The DOJ and FTC may designate entities as covered platforms if the aforementioned criteria are met, a designation that will apply for 10 years.
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