Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 23

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 23
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 collect, use, retain, protect, disclose, transfer and otherwise process personal
data. In particular, the GDPR includes obligations and restrictions concerning the consent and rights of individuals to whom the personal
data relates, security breach notifications and the security and confidentiality of personal data.

14

Failure to comply with the GDPR could result
in penalties for noncompliance (including possible fines of up to the greater of €20 million and 4% of our global annual turnover
for the preceding financial year for the most serious violations, as well as the right to compensation for financial or non-financial
damages claimed by individuals under Article 82 of the GDPR).

In addition to the GDPR, the European Commission
has another draft regulation in the approval process that focuses on a person’s right to conduct a private life. The proposed legislation,
known as the Regulation of Privacy and Electronic Communications (“ePrivacy Regulation”), would replace the current ePrivacy
Directive. While the text of the ePrivacy Regulation is still under development, a recent European court decision and regulators’
recent guidance are driving increased attention to cookies and tracking technologies. If regulators start to enforce the strict approach
in recent guidance, this could lead to substantial costs, require significant systems changes, limit the effectiveness of our marketing
activities, divert the attention of our technology personnel, adversely affect our margins, increase costs and subject us to additional
liabilities. Regulation of cookies and similar technologies may lead to broader restrictions on our marketing and personalization activities
and may negatively impact our efforts to understand users.

Further, in March 2017, the United Kingdom formally
notified the European Council of its intention to leave the EU pursuant to Article 50 of the Treaty on European Union (“Brexit”).
The United Kingdom ceased to be an EU Member State on January 31, 2020, but enacted a Data Protection Act substantially implementing
the GDPR (“U.K. GDPR”), effective in May 2018, which was further amended to align more substantially with the GDPR following
Brexit. It is unclear how U.K. data protection laws or regulations will develop in the medium to longer term and how data transfers to
and from the United Kingdom will be regulated. Some countries also are considering or have enacted legislation requiring local storage
and processing of data that could increase the cost and complexity of delivering our services. Beginning in 2021 when the transitional
period following Brexit expired, we are required to comply with both the GDPR and the U.K. GDPR, with each regime having the ability