Today, we live in a very different world than it was just a few years ago. Everything has changed; the geopolitical landscape, the energy market, and the cost of living. But what has also changed is the view on regulating the Internet. Some years ago, most politicians in the Nordics believed that the Internet should be free from rules and that a liberal regime was the only guardian of innovation. They said that tech companies should not be liable for the content on their platforms and big tech should be able to grow by acquiring start-ups.

Instruments with huge impact

The pendulum has now swung the other way, and in 2023 we see overwhelming support from Nordic decision-makers for the EU landmark regu­lations of the digital landscape, namely the Digital Services Act (DSA) and the Digital Markets Act (DMA). Both regulations were adopted by the EU ­institutions in 2022 and will become a reality at the start of 2024.

These instruments will have a huge impact on the way platforms must deal with liability for illegal content, but also how big tech companies should deal with their business users. The guiding principles have been to create fair and transparent rules that level the competition in the market and protect users and consumers from unfair commercial practices.

But while the EU wants to boost the European digital economy, it also wants to create a safe internet based on European values. This is a tricky balancing act between those who want liberal rules that allow for innovation and increased global competition and those who want heavy regulation that protects consumers of ­digital services.

Recent global events have undoubt­edly strengthened the perception among EU policymakers that the EU needs to be its own strong force and promote a distinct “third way” in regu­lating the digital economy, somewhere between the USA’s “laissez-faire” and Chinese authoritarianism.

This will and has already led to more regulatory oversight and enforcement powers at the EU level, making Brussels an ever­-more important focus for tech regulation.

Increased call for liability

During the past five years, we have seen a “tsunami” of proposed legis­ation affecting online marketplaces especially. Schibsted is ­currently monitoring or actively lobbying more than ten different EU proposals that have an impact on our businesses. The main reason for this regulation frenzy is the lack of trust by decision-makers in new ­online ­platforms operating in the EU. Many platforms are established outside Europe, which has led to an increased call for greater liability over the products these online marketplaces offer, as well as more control over the businesses selling the products and more collaboration with national authorities.

In addition to increased consumer protection, the EU has intensified its efforts to promote a transition towards a circular economy through various proposals. These are expected to lead to more durable and repairable products in the EU and more trustworthy environmental information being communicated by businesses.

The EU is also updating its VAT rules for the digital age and has increased the reporting requirements to tax ­authorities regarding sellers who sell many products via online platforms. All these rules will require ­changes to many digital services, including Schibsted’s second-hand marketplaces. In particular, we will have to make changes to how we ­collect information about our business ­sellers and we must start ­conducting ­random checks for dangerous or illegal products among the products listed on our platforms. Although we support the regulation, we think that it is important that the regulation does not require us to control the sale of second-hand products between consumers, as that would risk alienating consumers from selling their used products and throwing them away instead.