PYMNTS
MAY 21, 2018
Against the backdrop of social media controversy — remember Facebook , of course, and 87 million users’ data exposed to Cambridge Analytica — oversight is tightening in Europe. Justice Department and the FBI are investigating the company over how it handled Facebook-derived information. Also, in the U.K.,
PYMNTS
JANUARY 10, 2020
Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It eventually entered that field itself, and then it became a social media platform. It’s teamed up with a financial plan adviser to identify possible investors.
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PYMNTS
AUGUST 19, 2019
The summary, according to the site, would direct the FCC to develop new regulations that would detail how the law may protect social media platforms as they move to take content off their sites – and to take those new regulations into account when investigating or filing suit against those firms.
PYMNTS
MARCH 3, 2020
The wisdom of crowds, gleaned from social media, can paint a gestalt picture of how a government agency’s, bank’s or retailer’s efforts are being received on the ground, so to speak. The review, the opinions, thumbs up and down, and information passed in 240-character bytes are too far-flung, and constant, to monitor effectively.
PYMNTS
FEBRUARY 4, 2019
Back in 2017, WeChat admitted that it provided information about its users to the government after an update revealed that all the private information of customers will be disclosed to authorities in China. He believes the database should be available to court officials and police — not the general public.
PYMNTS
FEBRUARY 16, 2020
Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. And in comments made last March, he said he believes more regulation is needed on social media companies.
PYMNTS
JUNE 23, 2019
BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. The Bank of England approaches Libra with an open mind but not an open door,” Carney said, per a Reuters report.
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