Meta Platforms (META, Financials) criticized Malaysia’s proposed regulation requiring social media platforms to apply for a license by January 2025, Reuters said Wednesday.
Meta’s head of public policy for Southeast Asia, Rafael Frankel, said the absence of clear rules and the hastened compliance schedule might impede digital innovation and expansion in Malaysia. Platforms boasting more than 8 million users nationwide fall under the license criteria.
Aiming to fight fraud and cyberbullying, the Malaysian Communications and Multimedia Commission presented the regulation in July. Social networking sites that neglect to get a license by Jan. 1 can find themselves in legal hot water.
The Asia Internet Coalition, which stands for big tech firms like Google, Meta, and X, has opposed the proposal. The coalition asked the government of Malaysia to change the scheme. To keep running in the nation, Communications Minister Fahmi Fadzil underlined, nevertheless, that digital businesses had to follow local rules.
Citing confusing criteria, Frankel said Meta has not yet determined if she would seek for the license. According to him, rules of this kind sometimes take years to evolve and undergo many changes to strike a compromise between innovation and security.
Although Fahmi appreciated Meta’s assistance, she advised the business to act more aggressively to remove offensive information, especially concerning kids, from its platforms.
According to Frankel, Meta is collaborating with authorities to reduce negative material as it shares the government’s objective of building a secure online environment. He also hoped the business could allay government worries before the rules went into force.
This article first appeared on GuruFocus.
