Due to worries that Facebook and Instagram won't be able to comply with forthcoming EU laws targeting online campaigns, Meta Platforms Inc officials are reportedly considering a company-wide prohibition on political advertising in Europe, the Financial Times reported on Thursday.
In an effort to combat election-related disinformation, EU legislators approved stricter regulations on tailored political advertising in February. With penalties of up to 4% of their worldwide revenue for violations, the proposed regulations mandate that American tech titans provide more information on their tailored political advertisements.
According to the newspaper, which cited two individuals briefed on the talks, Meta executives are worried that the meaning of political ads under EU plans will be overly wide, making it simpler to reject all paid-for political campaigns on the company's websites.
The European Commission issued a warning to Facebook parent Meta in December of last year, claiming that it had violated EU trade laws by exploiting its powerful position and distorting competition in the marketplaces for online classified ads.
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