The European Union have reached an agreement to push ahead with landmark digital rules to rein in "gatekeepers", such as Amazon, Apple, Google, Microsoft and Meta among others.

The EU Parliament, Council, and Commission late last week agreed to the new rules, the Digital Markets Act, with EU lawyers now checking the legal text to finalise how the laws will operate.

Once finalised, the details of the Digital Markets Act will be made publicly available and sent through to the EU Parliament and Council for approval. Once approved, the Act will go into effect 20 days after its publication and its rules would apply six months after.

While the details of the Digital Markets Act haven't been finalised, the EU Parliament has so far confirmed that the rules will target "gatekeepers" -- companies with a market capitalisation of at least