The FTC wrote to nine social media and internet companies demanding more information on how they collect, store, and use customer data. Stricter legislation, which proposes fines of up to 10% of worldwide revenue for breaches, is currently being written. The EU-wide GDPR was passed in 2018 and its power is only growing. For globally operating tech companies, these developments point to a future where data privacy will become a compliance minefield. Support for national privacy legislation is likely to come from Big Tech itself ‘ long as long as it can be crafted.
Source: https://www.helpnetsecurity.com/2021/02/11/big-tech-privacy-laws/