Britain Regulator Fines Facebook $70 Million
The competition regulator said the company breached an order when it purchased Giphy.
The troubles for Facebook aren't over just yet.
Britain's competition regulator has fined the company 70-million dollars for breaching an order during its purchase of Gif platform - Giphy.
The "competition and markets authority" states – despite multiple warnings – Facebook purposely failed to comply with the order by not providing the required information.
The penalty serves as a warning that no company is above the law.
Facebook responded saying, "We will review the CMAs decision and consider our options."
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