GOP-Led Bill Seeks To Hold Facebook, Instagram, X, And Other Platforms Responsible For Policing And Removing Deepfake Porn Images
Portfolio Pulse from Benzinga Neuro
A new GOP-led bill, the Take It Down Act, aims to hold social media platforms like Meta's Facebook, Instagram, and Elon Musk's X accountable for removing deepfake pornographic images within 48 hours of a valid request. The bill, sponsored by Sen. Ted Cruz, seeks to protect victims by mandating the removal of such images and any copies. The Federal Trade Commission will enforce these rules.
June 18, 2024 | 12:12 pm
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Meta Platforms Inc. (META), which owns Facebook and Instagram, will be required to remove deepfake pornographic images within 48 hours of a valid request under the new GOP-led bill. This regulatory pressure could lead to increased compliance costs and operational changes.
The new bill directly targets Meta's platforms, requiring them to implement new procedures and potentially incur additional costs for compliance. This could negatively impact their short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
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Snap Inc. (SNAP), the parent company of Snapchat, will also be impacted by the new bill requiring the removal of deepfake pornographic images within 48 hours. This could lead to increased compliance costs and operational changes.
Snapchat, as a social media platform, will need to adhere to the new regulations, potentially incurring additional costs and operational changes. This could negatively impact their short-term stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80