Meta may shut down Instagram and Facebook in Europe

Meta sent a report to the Securities Commission in which the company does not rule out the possibility of closing social networks Facebook and Instagram in Europe due to EU laws.

What happened?

The problem is that, according to EU law, companies must store data exclusively on European servers. As for Meta, its servers are located in both Europe and the United States.

The company does not exclude the possibility that it will have to close Facebook and Instagram in Europe if the transatlantic data transmission system is not adopted. However, Meta notes that other firms will also suffer from this. One of Meta's vice presidents, Nick Clegg, stressed that the damage will be done to many companies whose activities are related to advertising and the provision of services.

A source: GSM Arena