Meta to shut down facebook

Meta has threatened to shutdown Instagram and Facebook in Europe

US. Tech company, Meta threatened to shut down its services, Facebook, and Instagram in Europe if it is

unable to access, transfer, store and process EU data on its US-based servers.

The social media giants warned it could walk away from countries in the European Union if a new EU law

restricting their use of Europeans’ data is introduced.

Data is crucial to the advertising business that generates nearly all of the company’s billions of dollars in

revenue and frameworks that have overseen the transfer of information from the continent are now

unclear.

The  “Privacy Shield” online data arrangement between Europe and the United States was annulled on

July 2020 in a top EU court decision that threw transatlantic big tech into legal uncertainty.

In its annual report to the US Securities and Exchange Commission, Meta said current EU regulations are

preventing data transfer which it says is essential for its operations.

European regulators are currently drafting new laws which will decide how users’ data is transferred to

the US.

European authorities and the US government are still talking through ways to resolve the issue.

The social media giant recently saw its worst-ever plunge in market value, after disappointing quarterly

results that raised questions about its future.

this isn’t the first time that Meta has had issues with regulators and governments over the way it is

regulated.

In 2021, the social media network banned users in Australia from sharing news articles for several days

because it objected to a law designed to force them to pay publishers for content.

It brought up news stories after negotiations with the Australian government, resulting in tweaks to the

law.

source: dailymail.co.uk

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