Play TikTok soon. Facebook and Instagram are about to die.
Meta Platform Inc's Facebook and Instagram apps have warned it will shut down its services in Europe if it is unable to transfer data from its European users to servers based in the United States (US).
This is due to laws that have been introduced in Europe, where they have prohibited any user data from being taken out of continental Europe for processing.
Meta slammed the bill by issuing a statement on the importance of data sharing is to provide targeted services and advertising to consumers.
He added that the laws and regulations approved by the European regulators and legislatures have had a severe impact on its operations.
Previously, Meta had introduced a transatlantic data transfer framework, Privacy Shield to conduct data transfers, however, the framework was not ratified by the European Court of Justice in July 2020 as it violated data protection.
For now, Meta only relies on the Standard Contract Clause to transfer data, which is believed to be subject to ‘regulatory and judicial scrutiny’.
This is not the first time Meta has faced problems with a ban on transferring user data. Previously, Meta had blamed Apple for changing the privacy policy of iPhone users, causing Meta's shares to plummet.
In this regard, Mark Zuckerberg also felt the effects that caused his wealth to fall slightly.
