The new General Data Protection Regulation (GDPR) came into force in the EU on 25 May 2018. It governs the protection of personal data belonging to persons who reside in the EU. As a website owner, you are responsible for informing users about how your website processes their data, particularly if they reside in the EU.
It is important that you include information about how your website uses cookies and other tracking technology. According to the GDPR, you are permitted in principle to process website user data (for example, by collecting, using and storing it), but this process must meet the new requirements of the GDPR as of 25 May. With the consent of your customers or website users, you can continue to process (that is, collect, store, manage etc.) their data in various ways within the scope of the law.
For further information, see the GDPR guidelines