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EU won't let Facebook tell it how to regulate tech giants

The European Union won't let Facebook tell it how to regulate Big Tech. Today, EU industry commissioner Thierry Breton said Facebook will have to adapt to the EU's standards, not the other way around, Reuters reports.

This comes as Facebook is promoting its "Charting a Way Forward: Online Content Regulation" white paper, which offers guidelines for future regulations. Breton dismissed the guidelines proposed in Facebook's white paper as insufficient. He noted that Facebook didn't mention its own market dominance or clearly outline its responsibilities.

"It's not for us to adapt to this company, it's for this company to adapt to us," Breton told reporters after a meeting with Facebook CEO Mark Zuckerberg.