U.S. Sens. Mark Warner, D-Va., and Josh Hawley, R-Mo., plan to introduce a bill to require tech companies to disclose the value of user data, Axios reports. Companies that have more than 100 million monthly users and generate material revenue from data processing and collection would have to disclose the types of information collected under the Designing Accounting Safeguards to Help Broaden Oversight and Regulations on Data Act, as well as an assessment of the value of that information every 90 days. Those companies would have to disclose the value of all user data to the U.S. Securities and Exchange Commission on an annual basis. “People don't realize one, how much data is being collected; and two, they don't realize how much that data is worth,” Warner said.
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