EU-U.S. Data Privacy Framework - Draft Adequacy Decision by the European Commission: The Long-Awaited Replacement of the Privacy Shield? | Data Law Insights
Briefly

The draft adequacy decision is crucial for fostering transatlantic data flows, addressing privacy concerns from the Schrems II ruling, and assisting businesses in the EU and U.S.
An adequacy decision allows personal data to flow freely from the European Economic Area to recognized locations without further conditions, simplifying cross-border data exchange.
President Biden's Executive Order introduced new binding safeguards to address Schrems II concerns, ensuring EU residents' privacy rights are protected against broad U.S. intelligence access.
The CJEU's Schrems II ruling highlighted significant flaws in the U.S. Privacy Shield, prompting the Commission's reassessment of U.S. data protection standards through the adequacy decision process.
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