It has already been formalized. The European Commission has officially proposed a new law that would oblige Apple (and other manufacturers) to adopt the USB-C connection on your smartphone. It would spell the end of the Lightning connection on iPhones, iPads, and AirPods.
Apple criticizes decision, saying it stops innovations
Apple has ruled on the matter, insisting that the obligation to use only one type of connection “slows innovation instead of encouraging it”. IPhones, including the new iPhone 13s launching tomorrow in stores, still include the Lightning port for charging and data transfers.
The European Commission has also stated that it is not about annoying Apple, but to act after the companies could not agree after years of talks and alleviate the polluting effects of having countless cables and charging adapters. The fewer cables and adapters we use to charge our stuff, the better.
From here on, the bill will be voted on shortly in the European Parliament. If approved (it could be sometime in 2022), Apple is going to have a period of two years to adopt the USB-C connection on iPhones. Perhaps it could start to affect in 2024, or in 2025 at the latest.