$1.7 trillion spending bill requires platforms to verify ID of those earning $5,000 revenue per year

A massive, $1.7 trillion funding bill was approved in the US Congress last Friday and will become law once signed by President Biden.

And once that happens, it will bring into force proposed legislation introduced last year, INFORM Consumers Act, designed to regulate a sensitive segment of online marketplaces, delving deep into and disclosing sellers’ personal data under some circumstances.

Namely, the Integrity, Notification, and Fairness in Online Retail Marketplaces (INFORM) for Consumers Act will require e-commerce companies to collect, verify, and disclose “certain information from high-volume, third-party sellers.”