Google has backtracked on its plans to phase out cookies on its Chrome browser, the internet giant said on Monday. In 2020, Google first announced that it wanted to push out so-called third-party cookies, data stored in web browsers that allow companies to track users, by default in its Chrome web browser. However, in a blog post on Monday, the company said the transition would require “significant work by many participants” and would impact everyone involved in online advertising. “In light of this, we are proposing an updated approach that elevates user choice. Instead of deprecating third-p…