The regulator determined that the firm’s Facebook and Instagram services contravened EU General Data Protection Regulation, and could not rely on users’ agreements to terms of service updates as the basis for behaviour-based advertising. (The Logic)

Talking point: The decision doesn’t mean Meta can’t use user data to target ads, just that the legal basis it’s currently citing doesn’t hold up. The DPC, which acts as the privacy regulator for the tech giant in the EU, has given the firm three months to get into compliance. In a blog post, Meta said there’s “a lack of regulatory clarity” on the issue, insisted its practices are GDPR-compliant, and said it plans to appeal the outcome. Some stock analysts estimated the decision could have significant revenue impacts for the tech company, at least on the continent, but its share price was unaffected in Wednesday trading.