Meta threatens to leave Europe without Facebook and Instagram
In Meta's annual report to the US Securities and Exchange Commission, they found a statement
that the company is ready to stop Facebook and Instagram from operating in Europe
New European legislation restricts US companies' for collection of citizen data
Several new European regulations allow the collection of user data only if stored in the EU
And prohibit the transfer of confidential information to US servers
User privacy laws began in 2013. Then the Austrian lawyer studied an impressive document which Facebook owns
In 2016, the second wave of the fight for the privacy of European citizens began
Meta noted that if regulators do not pass a new agreement this year..
they will be prohibited from transferring data from European users and storing it on servers in the US
In this case, Meta is ready to leave the market and leave Europe without Facebook and Instagram
London-based City AM has contacted Meta for comment
The company responded and stated that the data ban would affect Facebook and other organizations as well
Facebook CFO Dave Wehner also predicted the company's losses due to the new privacy policy in iOS
In addition, there was an overall slow growth of Meta