Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.
Privacy legislation has become a rare bipartisan topic on Capitol Hill, and some states have swiftly forged ahead with their own versions of the EU law."As lawmakers adopt new privacy regulations, I hope they can help answer some of the questions GDPR leaves open," Facebook's Zuckerberg wrote in aGDPR went into effect last May across the European Union, harmonizing privacy laws across the bloc.
The EU rules also give teeth to privacy regulation enforcement. Companies that breach GDPR can face fines of up to 20 million euros of 4% of annual revenues, whichever is bigger. So far, regulators haven't levied any of the billion-dollar fines some expected, while the complexity of the lawLawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of GDPR – and ditch what they see as the worst.
"We want to adapt many of the protections under GDPR but we also want to streamline those compliance requirements that under GDPR are quite burdensome," said Denise Zheng, VP of Technology and Innovation Policy at Business Roundtable, in an interview in Washington last month. Zheng said requirements like "opt-in" banners on websites can hurt users' online experience, while penalties under GDPR are "quite significant" for smaller businesses.
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