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Zuckerberg stops Facebook and Instagram for Europe?




Mark Zuckerberg


US, EU consider new legal agreement on personal data protection after European Court annuls previous treaty

Facebook and Instagram may cease to operate in Europe if Meta (the parent company) does not receive permission to transfer, store and process European users’ data on its servers in the United States. This was warned by the owner of the tech giant Mark Zuckerberg in the company’s annual report, quoted by Cityam. It is the exchange of data between countries that is crucial for the provision of social network services.

Meanwhile, the EU and the US have announced that they are working on a new agreement to ensure the security of data exchange, after the European Court of Justice annulled the old legal framework called Privacy Shield due to breaches of data protection.

The key problem for Meta is that transatlantic data exchange is regulated by such agreements, and current treaties are currently under strict scrutiny in the EU.

Meta warns that if a new legal framework is not adopted, the company will probably not be able to offer its most important services in the EU.

A few days ago it became clear that Facebook is losing daily users for the first time in its 18-year history, and according to Mark Zuckerberg, this was caused by the tic-talk boom.

The financial report, which was released on Wednesday, plunged the company’s shares by as much as 20%. That wiped out $ 200 billion. of the total value of “Meta” on the stock exchange and caused a shock in the personal finances of Zuckerberg, who parted with $ 29 billion in a day.

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