EU to Simplify GDPR: A Lifeline for Struggling Businesses?

The European Union is poised to simplify its complex General Data Protection Regulation (GDPR). Since its 2018 implementation, the GDPR has faced criticism for its burdensome compliance requirements, particularly impacting small and medium-sized enterprises (SMEs). Danish Digital Minister Caroline Stage Olsen highlighted the need for simplification, acknowledging the importance of privacy while advocating for less bureaucratic compliance. The European Commission has confirmed an upcoming proposal to streamline the GDPR, aiming to alleviate the compliance burden on SMEs and boost Europe's economy. This move echoes concerns raised by former Italian Prime Minister Mario Draghi about Europe's complex regulations hindering innovation.