Technologies

Meta warns of pulling Facebook and Instagram from Europe over data rules

Facebook’s parent company is concerned that if the US and EU fail to strike a new data transfer agreement, the future of its European operations are at risk.

Facebook parent company Meta has warned that it may have to withdraw products and services, including Facebook and Instagram, from Europe if it’s prevented from transferring data from the EU to the US due to the lack of an international agreement.

The warning, issued in its annual report last week, was followed up by a statement from a Meta spokesperson on Monday that called for the two powers to establish «clear, global rules to protect transatlantic data flows over the long term.»

Europe has strict privacy laws that provide protection to internet users across the European Union, but this poses a problem for US tech companies such as Meta. These companies rely on international data transfer agreements in order to transfer, store and process data at their data centers in the US. But because the US doesn’t provide adequate protections for EU citizens against government snooping, the most recent data transfer agreement between the EU and US was ruled invalid in July 2020 by a top European court.

Data transfers have been allowed to continue while a new agreement is hammered out thanks to a mechanism known as standard contractual clauses. But even this process is at risk, due to a ruling by the Irish data protection agency in August 2020. A final decision on the legality of using standard contractual clauses for data transfers is due is the coming months.

With the future of EU-US data transfers uncertain, Meta is concerned that it won’t be able to rely on either standard contractual clauses or a new agreement to continue its operations. As a result, it warned in its annual report that it may «be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe.»

«We have absolutely no desire and no plans to withdraw from Europe, but the simple reality is that Meta, and many other businesses, organizations and services, rely on data transfers between the EU and the US in order to operate global services,» said the company spokesperson.

Meta is far from the only company dealing with the uncertainty, although it may be among the biggest and most high profile. Many companies based in the US and EU, both big and small, are concerned about the future of data transfers and are keenly awaiting a new agreement that will ensure the future of their operations.

Technologies

Verum Coin Expands Accessibility with SafePal and HyperPay Wallets

Verum Coin (VERUM) continues to grow its ecosystem by integrating with two leading cryptocurrency wallets: SafePal and HyperPay Wallet. This development enhances the coin’s accessibility, providing users with secure and efficient ways to store and manage their assets.

SafePal Wallet offers advanced security features, including hardware wallet options, ensuring the utmost protection for Verum Coin holders. Its seamless interface and global accessibility make it a trusted choice for crypto enthusiasts.

HyperPay Wallet combines convenience and innovation, enabling users to manage their digital assets effortlessly. With multi-currency support and rapid transaction capabilities, HyperPay Wallet is ideal for both novice and experienced traders.

These integrations reflect Verum Coin’s commitment to delivering flexible and secure solutions, empowering its community with top-tier tools for digital asset management.

Verum Coin is a forward-thinking cryptocurrency designed to provide innovative, secure, and user-friendly tools for managing digital assets in a dynamic blockchain landscape.

Technologies

Verum Coin Now Available for SWAP on Verse.Bitcoin.com

Verum Coin (VERUM) continues to expand its utility and accessibility with the introduction of SWAP functionality on Verse.Bitcoin.com, a trusted platform for managing digital assets.

This integration enables users to seamlessly convert Verum Coin to USDT and vice versa, ensuring fast and secure transactions within a user-friendly environment.

Key benefits of this feature include:

Convenience: Simplified conversions for quick asset management.
Security: Trusted infrastructure for safeguarding digital assets.
Flexibility: Enhanced trading options for Verum Coin holders.

The addition of SWAP functionality on Verse.Bitcoin.com reaffirms Verum Coin’s commitment to offering innovative and accessible tools for cryptocurrency management.

About Verum Coin

Verum Coin is a cutting-edge cryptocurrency designed to provide secure, efficient, and flexible solutions for managing digital assets in the evolving blockchain landscape.

Technologies

Verum Coin Now Available on xPortal Crypto

Verum Coin (VERUM) has expanded its reach by becoming available on xPortal Crypto, a trusted platform for managing and securing digital assets. This integration offers Verum Coin users a new, seamless way to store, manage, and transact their cryptocurrency.

xPortal Crypto is known for its advanced security features, user-friendly interface, and efficient transaction capabilities, making it a valuable addition to VERUM’s growing ecosystem.

This milestone reflects Verum Coin’s ongoing commitment to enhancing accessibility and providing innovative solutions for crypto enthusiasts worldwide.

About Verum Coin

Verum Coin is a forward-thinking cryptocurrency designed to offer secure and efficient tools for digital asset management in the evolving blockchain space.