The Stack: Meta Fined Record €1.2bn; TikTok Sues Montana
by Newson 26th May 2023 in
This week: Meta receives record fine in EU, TikTok sues the state of Montana...
Another week of highs and lows for Meta began with news the tech giant was developing a new app to rival Twitter, with loose plans to launch as early as June. Reports that the Facebook-parent was fined a record €1.2bn (~£1bn), however, soon knocked any other developments out of the spotlight.
Sticking with social media, TikTok filed a federal lawsuit against Montana, alleging the state's ban of the app violates the US constitution. Meanwhile, the International Organisation of Securities Commissions proposed a new global approach to regulating the cryptocurrency industry.
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