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    • Libra faces EU antitrust scrutiny

      Libra faces EU antitrust scrutiny

      Facebook's less than two-months-old Libra cryptocurrency project is being probed again, this time by European Union antitrust regulators. According to documents, seen by Bloomberg, the European Commission have begun conducting a preliminary investigation on "the potential anti-competitive behavior," related to the Libra Association.

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    • US readies antitrust probe of tech titans

      US readies antitrust probe of tech titans

      Top prosecutors from a group of US states are readying a joint investigation into whether major technology firms have violated antitrust law, the Wall Street Journal reported Monday. The alliance of state attorneys general could formally announce next month that they are delving into whether leading internet firms and technology platforms have used their clout to thwart competition, the Journal reported, citing unnamed people familiar with the matter.

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    • New US law forces big tech to disclose value of data

      New US law forces big tech to disclose value of data

      A new bill, that would force tech giants like Google, Amazon, and Facebook to tell users how much their data is worth was introduced by American lawmakers on Monday. In an age where data is exploited as one of the world’s most valuable resources, the law would put a spotlight on what’s otherwise been a hidden side to the tech economy.

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    • Facebook to enter the crypto market

      Facebook to enter the crypto market

      Facebook is preparing to release a new digital currency to the market called GlobalCoin that aims at helping users send and receive money. The intention is to launch it in about a dozen countries during the first quarter of 2020, according to information published by BBC.

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    • Facebook closes 23 Italian pages ahead of EU vote

      Facebook closes 23 Italian pages ahead of EU vote

      Facebook announced on Monday it has closed 23 Italian pages, including many supporting the country's populist government parties, for spreading fake news and breaking other social network rules. The move, coming ahead of the European Parliament elections, was taken in response to an investigation by Avaaz, a global campaigning group, news wires reported.

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    • Facebook expects to be hit with $3-5bn fine by the FTC

      Facebook expects to be hit with $3-5bn fine by the FTC

      In its quarterly results reported to investors, Facebook said on Wednesday that for now it was setting aside $3bn to pay in potential penalties to the Federal Trade Commission, but that the eventual number could be much higher by the time the FTC’s investigation is over. The possible FTC penalty “is not expected to be tax-deductible,” the company added in a footnote.

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    • EU officials attack Facebook election policy

      EU officials attack Facebook election policy

      EU officials from bloc's three main institutions have demanded Facebook make changes to its advertising policy ahead of the European Parliament election, citing "huge political and institutional consequences," a letter sent to the US tech giant on 16 April reads. Under new set of rules, which came into force this week, the social media giant has imposed much stricter requirements on the geographic limits of a given campaign.

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    • Australia cracks down on social media with new laws

      Australia cracks down on social media with new laws

      Social media executives could spend up to three years in prison and their firms be fined 10 percent of their turnover if they fail to quickly remove violent material from their platforms, according to a new law proposed by the Australian government. The new legislation will be presented to the parliament next week - in lawmakers' final days in power before the federal election.

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