This article discusses the approaches towards regulation and liability of digital platforms, focusing on the European Union perspective. It demonstrates that the current regulatory and scholarly perception of platform liability in the European Union has been framed by the EU Electronic Commerce Directive 2000/31 provisions on liability of information society service providers. Subsequently, in light of scholarly writings and regulatory developments, two main approaches towards platform liability are identified and discussed: On the one hand, the idea of general provisions on platform liability, exemplified by the Discussion Draft on Digital Platforms. On the other hand, sector-specific provisions that densely regulate business models based on digital platforms, exemplified by the new EU Package Travel Directive 2015/2302. Both approaches are evaluated as far as their potential for inspiring legislative activity is concerned.