Meta platforms Inc. said in its 10-K statement submitted to the securities and Exchange Commission (SEC) that it would withdraw Facebook and instagram from Europe if it could not transmit user data back to the United States with legal guarantee.
At present, European regulators are reformulating the regulations on the trans Atlantic China Welding Consumables Inc(600558) transmission of European data. The previous privacy protection agreement with the United States was ruled invalid by the European Court of justice in July 2020
(source: 10-K report)
Meta wrote, "if there is no new agreement for the company to transfer data, it may not be able to provide some important products and services in Europe, including Facebook and instagram."
Meta is considered unlikely to withdraw its flagship products from the European market, but the response highlights the increasingly tense relationship between the (former) social media company and legislators in terms of user data ownership.
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The European Commission said on Monday that it had conducted in-depth negotiations with the US government, but they "needed time because the issues discussed were complex and needed to strike a balance between privacy and national security." "Only by fully meeting the requirements set by the European Court of justice can we provide the stability and legal certainty expected by stakeholders on both sides of the Atlantic China Welding Consumables Inc(600558) Strait," the spokesman added
In 2011, an Austrian lawyer believed that Facebook violated his privacy information and filed a complaint with the Irish Data Protection Commissioner. In 2020, the European Court of Justice ruled that the "privacy shield" was inconsistent with the privacy rights of its citizens. This is the so-called schrems II decision, with the cancellation of the privacy shield and safe harbor, any company relying on it to authorize the transfer of personal data of EU citizens is illegal.
Patrick van eecke, partner and head of network and data at law firm Cooley LLP, said the data protection agency was reviewing security remedies that allowed the company to continue transmitting data without a new agreement. "I'm not surprised because there aren't many options," van eecke said
This is not the first time meta has threatened to withdraw its social media services. In 2020, Australia will require Facebook and Google to pay for news content to Australian media. Facebook, which did not change its name at that time, fought back in this way.
