U.K. tech regulations threaten to Drive U.S. giants away

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A major U.S. tech firm has threatened to leave the U.K. if the government passes new regulations that would give the competition watchdog unprecedented power over tech companies.

The company, which has not been named, is concerned about the Online Safety Bill, which would require tech companies to police social media content more strictly. The bill also gives the competition watchdog the power to define regulations and penalties for major tech companies.

The company’s concerns are shared by other U.S. tech giants, such as Microsoft and Apple. Microsoft has warned that the Online Safety Bill could stifle innovation, while Apple has said that it could withdraw some of its services from the U.K. if the bill is passed.

The U.K. government has defended the Online Safety Bill, saying that it is necessary to protect children from harmful content online. However, the tech industry argues that the bill is too broad and could be used to censor legitimate content.

Concurrently, there’s a proposed amendment to the Investigatory Powers Act, which require Home Office approval for new security features.

The sources for this piece include an article in BBC.

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