Meta may shutdown Facebook and Instagram across Europe due to a data regulations dispute that prevent Meta from transferring, storing and processing European's data on US-based servers.
In its annual report to the US Securities and Exchange Commission, Meta warned last Thursday that EU regulations are preventing them data transfer which is essential for its operations. The current regulations might probably led them to walk away from the continent.
"If we are unable to transfer data between and among countries and regions in which we operate, or if we are restricted from sharing data among our products and services, it could affect our ability to provide our services, the manner in which we provide our services or our ability to target ads," Meta statement read.
"We will likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe," it added.
Meta's previous data transfer framework called Privacy Shield used to carry out data transfer has been regulated by EU Court of Justice due to violations of data protection.
The negotiations still moving on as US and EU tried to work on a new version but it is yet to be implemented.
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