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US bill to end platform monopolies authorizes FTC, DOJ to provide structural solutions, Nadler says

( June 24, 2021, 15:51 GMT | Official Statement) -- MLex Summary: The Ending Platform Monopolies Act would provide a structural solution to prevent dominant online platforms from leveraging their monopoly power to distort or destroy competition in markets that rely on that platform, US Representative Jerrold Nadler said during a House markup of the bill. "By operating as both the platform and as a competitor on the platform, these firms often possess an irreconcilable conflict of interest enabling them to harm competition by preferencing their own products and harming rivals," Nadler said in a statement. The bill authorizes the Federal Trade Commission and the Department of Justice to take action to eliminate these conflicts of interest and provide structural solutions to the structural problems that impair competition online.Statement follows....

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