Federal data privacy regulations
February 17 2023
data privacy regulations

During the State of the Union speech, US president Biden called for Congress to introduce federal regulations with stricter controls on personal data processing by Big Tech companies. For advocates on the implementation for stronger federal Privacy and Data Protection laws, the absence of nationwide regulation has made it possible for Big Tech to arbitrarily use customer and user personal information.

If a meaningful federal regulation on the matter is implemented, “game rules” for Big Tech could potentially change, given personal data exploitation would be significantly curtailed, which in turn would lead to important changes in data processing structure -and the relevance assigned to it- within such companies.

This could have a significant impact on Colombian jurisdiction since, considering the remarkable amount of US-based Big Tech companies, the US regulatory requirements could turn into part of their global information processing structures and, consequently, into “good practices” or minimum standards imposed by Big Tech companies on their counterparties as a requirement for engaging in business.