Building the future of the data economy

Data is one of the fastest growing raw materials, which will be used substantially in the development of new services and business operations in the future. The European data economy is valued at approximately EUR 500 billion in 2023, and the data economy is estimated to grow by approximately 9 per cent annually.

The EU released its strategy for data in 2020. Following this strategy, the EU has adopted several bodies of legislation concerning the regulation of the digital and data market in the past few years.

Traficom plays a versatile role in new EU regulation

Traficom has gained new duties and roles as a result of the new EU statutes. The most important ones include:

• A registration and supervisory authority for data intermediation services and data altruism organisation pursuant to the Data Governance Act (DGA) as of 1 January 2024
• A national coordinator of digital services and principal supervisor of the Digital Services Act in Finland pursuant to the Digital Services Act (DSA) as of 17 February 2024
• A supervisor of the special measures defined in the European Regulation on Terrorist Content Online (TCO)

Traficom’s essential duty is to guide and advise both companies and service users regarding their duties and rights. In addition, Traficom monitors that companies fulfil the obligations set for them in the statutes.

Close cooperation with authorities

Traficom works closely with other authorities, in particular with the Data Protection Ombudsman and the consumer authority, who also have the authority to monitor observance with the Digital Services Act. Traficom cooperates with the police, the principal supervisor of the Regulation on TCO, to prevent terrorist content online. Cooperation ensures that the special expertise of each authority is utilised in regulation-related counselling and monitoring and supports the smooth flow of information.

In order to ensure the uniformity of practices and interpretations, Traficom cooperates actively with the European Commission and Member States authorities. Traficom participates in the activities of the European Data Innovation Board (EDIB) and the European Board for Digital Services, among other official bodies. In addition, Traficom is involved in various EU working groups related to digital and data regulation.

Keep up with our data economy network!

Traficom has a data economy network that aims to develop national regulatory work concerning digital and data regulation in particular.

Would you like to receive news about digital and data regulation? Subscribe to our newsletter to learn about the development and practices of digital and data regulation and Traficom’s information events.

You can also contact us by email at datatalous@traficom.fi