Re:StreetLend.com shuts down, citing GDPR regulations
by hectormalot on Monday April 30, 2018 @01:12AM
(#16955945)
It’s probably not possible. I wouldn’t map the (EU) GDPR on how a US-like legal system works. E.g. it’s very unlikely that the regulator seeks maximum penalties in the EU, and worst case you could go to court arguing that a penalty is non proportional compared to other cases (and win)
The maximum fine is a cap, not a guideline.
It actually doesn’t say that. This law has the effect of small business essentially needing a 20 million insurance policy to protect against the possible whims of an overzealous regulator? It’s either insure yourself for 20 million or risk losing your entire business over potentially a trivial matter.
When people in the UK have been jailed 8 months over traffic cameras or prosecuted and jailed for speech, I wouldn’t give a European government the benefit of any doubt. Willingly inviting an unelected regulator, accountable to nothing but the letter of a badly written law created by another unelected government body — that’s just foolish.