Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.
This is due to concerns that Facebook and Instagram will be unable to comply with upcoming EU regulations targeting online campaigns, the Financial Times reported on Thursday.
In February, EU lawmakers agreed to tougher rules on targeted political advertising in order to combat misinformation during elections.
The proposed rules require US tech behemoths to provide more data on their targeted political advertisements, with fines of up to 4% of their global revenue for violations.
According to the publication, Meta executives are concerned that the definition of political ads under EU plans will be so broad that it will be easier to refuse all paid-for political campaigns on the company’s sites.
Last December, the European Commission warned Facebook parent Meta that it was violating EU antitrust laws by distorting competition and abusing its dominant position in markets for online classified advertising.
