Bloomberg Law: Privacy & Data Security brings you single-source access to the expertise of Bloomberg Law’s privacy and data security editorial team, contributing practitioners,...
Global policymakers should embrace a light-touch towards electronic commerce that doesn’t get bogged down in privacy and cybersecurity concerns, the founder of China’s largest online retailer told the UN April 25.
Alibaba Holdings Group Ltd. Founder Jack Ma’s comments seem to mesh with President Donald Trump’s stance toward excessive regulation that could hamper burgeoning industries. In recent weeks, Congress authorized and Trump repealed a Federal Communications Commission rule that would have required internet service provider’s to gain user consent to collect and use consumer web use data.
Ma's comments carry extra weight because Alibaba is the world's third largest e-commerce company with a $286.6 billion market capitalization, Bloomberg data show.
Europeans, however, tend to take a different approach, Ma said during a panel discussion at the United Nations in Geneva. The European Union’s new privacy regime coming in May 2018, the General Data Protection Regulation includes stricter consumer consent requirements. European regulators shouldn’t hamper innovation because “when you worry about too much, nothing can happen,” he said.
Instead, Ma urged global regulatory authorities to focus on policies that encourage entrepreneurs, encourage infrastructure investment and reduce tax burdens for e-commerce companies.
“We should not discipline the baby before it is born,” Ma said.
To contact the reporter on this story: Bryce Baschuck in Geneva at firstname.lastname@example.org
To contact the editor responsible for this story: Donald Aplin at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)