RT PeterSweden (@PeterSweden7)The EU has just decided to give X a €120 MILLION fine under the Digital Services Act.The EU has also given Hungary a €200 MILLION fine plus €1 million every day for refusing to open their borders. ...

RT Tesla Owners Silicon Valley (@teslaownersSV)BREAKING: The EU just hit X with a massive €120 million fine for violating the Digital Services Act.They claim it’s about “transparency” and “researcher data access,” but let’s call it what it is: a direct attack on free speech. https://t.co/gqFCbwApce ...

BREAKING: The EU just hit X with a massive €120 million fine for violating the Digital Services Act.They claim it’s about “transparency” and “researcher data access,” but let’s call it what it is: a direct attack on free speech. https://t.co/gqFCbwApce ...

Core Viewpoint - Meta has been ordered to pay 479 million euros (approximately $552 million) due to violations of the EU's General Data Protection Regulation (GDPR) and Spain's antitrust law [1][3]. Group 1: Legal Findings - A Spanish court ruled that Meta used personal data for behavioral advertising on Facebook and Instagram without proper user consent from May 2018 to August 2023 [2][3]. - The court determined that Meta's justification for behavioral advertising based on "necessity for the performance of a contract" was inadequate [4]. - All profits earned by Meta from advertising during the specified five-year period were deemed to be in breach of data protection regulations [4]. Group 2: Compensation and Impact - The compensation ordered by the court will be distributed to 87 digital media agencies, as Meta was found to have gained a "significant competitive advantage" in Spain's online advertising market [3]. - Media organizations argue that platforms like Facebook benefit disproportionately from sharing their content without compensation [5]. Group 3: Ongoing Regulatory Challenges - Meta is also facing accusations from the European Commission for failing to comply with the EU's Digital Services Act, which mandates transparency and accountability from large online platforms [5][6]. - The Commission highlighted that Meta's platforms did not provide user-friendly mechanisms for reporting illegal content and made it difficult for independent researchers to access public data [6].

Core Points - The European Union has charged Meta Platforms Inc. for allegedly failing to properly handle illegal content on Facebook and Instagram, marking the bloc's first such accusation against a major social media company [1] Group 1 - The charge indicates a significant regulatory scrutiny on Meta Platforms Inc. regarding its content moderation practices [1] - This action reflects the EU's ongoing efforts to enforce stricter regulations on social media platforms to ensure compliance with legal standards [1] - The case could set a precedent for future regulatory actions against other social media companies operating within the EU [1]

Core Insights - The European Commission has preliminarily found that both TikTok, owned by ByteDance, and Meta have violated transparency requirements under the Digital Services Act (DSA) [2] Group 1: Regulatory Findings - The Commission's preliminary findings indicate that both platforms are in breach of their obligations regarding transparency [2]

Currency Market - The GBP/USD currency pair has declined by 0.2%, trading at 1.3274, influenced by a stronger U.S. dollar and concerns regarding the UK economic outlook [3][8]. Technology Sector - The EU Commission is formally scrutinizing major tech platforms, including Snapchat, YouTube, Apple App Store, and Google Play, under the Digital Services Act (DSA) for their safeguards for minors [4][8]. Monetary Policy - The People's Bank of China (PBOC) did not engage in any government bond trading throughout September, indicating a specific stance on monetary policy and market liquidity management [5][8].

Core Viewpoint - The European Union is demanding major tech companies, including Apple, Google, Snapchat, and YouTube, to explain their measures for protecting children online, emphasizing the need for enhanced privacy, security, and safety [2][4]. Group 1: EU Actions and Regulations - The European Commission has initiated requests for information under the Digital Services Act (DSA) to assess the practices of Apple, Google, Snapchat, and YouTube regarding the protection of minors online [2][3]. - The EU is also investigating Meta's Facebook and Instagram, as well as TikTok, due to concerns about their platforms' addictive nature for children [4]. - Denmark, holding the rotating EU presidency, is advocating for collective action to safeguard minors, including a proposed ban on social media for children under 15 [5]. Group 2: Future Considerations - EU ministers are set to discuss age verification on social media and potential measures to enhance online safety for minors [6]. - A joint statement is expected to support EU chief Ursula von der Leyen's initiative to explore a potential EU-wide digital majority age, with plans to establish a panel of experts for further assessment [8].

Core Points - A Dutch court has ordered Meta to provide Facebook and Instagram users in the Netherlands with direct access to a non-algorithmically profiled feed [1][2] - The court's ruling emphasizes that Meta's current practices do not allow Dutch citizens to make free and autonomous choices regarding profiled recommendation systems [2][3] - Meta has been given two weeks to implement changes, including retaining user preferences for non-profiled timelines [3] Legal Context - The case was initiated by the privacy group Bits of Freedom, which argued that Meta's practices violated the EU's Digital Services Act (DSA) [3] - The court's decision was influenced by the upcoming Dutch elections on October 29, highlighting the urgency of the matter [3] Financial Implications - Meta faces a daily fine of €100,000 (approximately $117,450) for non-compliance, with a maximum penalty of €5 million [4] - Meta has expressed disagreement with the court's decision and plans to appeal, citing previous changes made to comply with regulatory obligations [4][5] Regulatory Environment - Meta argues that the DSA should be enforced consistently across the EU and not through individual court cases in member states [5] - The DSA aims to create a unified regulatory framework for tech companies, and proceedings like this could threaten the digital single market [7]

Core Viewpoint - Meta Platforms Inc. is facing potential fines from the European Union for not adequately moderating illegal content on its platforms, Facebook and Instagram, as per the EU's Digital Services Act [1][3]. Group 1: Regulatory Actions - The European Commission is preparing to issue preliminary findings indicating that Meta's platforms lack an adequate "notice and action mechanism" for users to report illegal posts [2]. - A charge sheet against Meta is expected in the coming weeks, following an investigation that began in April 2024 [3]. - If the findings are confirmed, Meta could face fines of up to 6% of its annual global sales [3]. Group 2: Compliance Requirements - Under the EU's Digital Services Act, platforms with over 45 million monthly active users in the EU must implement robust measures to combat illegal or harmful content [5]. - Meta is currently under investigation for issues related to illegal content, disinformation, and the protection of minors [5]. Group 3: Industry Context - Other major platforms, including X (formerly Twitter), TikTok, and e-commerce sites like Temu and AliExpress, are also facing proceedings under the Digital Services Act [5]. - The EU's regulations on large tech platforms have become a point of contention in its relations with the US, with accusations of unfair targeting of American companies [6].