The European Union is preparing to impose a fine on Mark Zuckerberg's Meta for allegedly breaching antitrust regulations set forth in the Digital Markets Act, potentially exceeding $1 billion. The law, effective since 2023, targets major companies deemed 'internet gatekeepers' like Meta, Google, and Apple. An enforcement decision is anticipated imminently, which will include a cease-and-desist notice mandating compliance changes. EU officials argue this legislation is vital to ensuring competition remains fair, particularly against the backdrop of growing scrutiny on Big Tech's market power.
The European Union plans to impose a fine on Meta that could exceed $1 billion for antitrust violations, following the enforcement of its Digital Markets Act.
EU regulators are expected to deliver a cease-and-desist notice to Meta, outlining the necessary changes for compliance with competition rules.
The Digital Markets Act applies strict competition laws to Meta and other major tech companies, aiming to promote fair competition and prevent anti-competitive behavior.
Both Meta and Apple are under scrutiny, with potential fines looming as the EU reinforces its stance against tech giants that stifle competition.
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