Malaysia's Social Media Licensing: A New Regulatory Era

Malaysia plans to require social media platforms with over eight million users to apply for a regulatory license by January 2025. Meta expresses concern over the lack of clarity in the guidelines, warning it could stifle innovation. The plan aims to tackle online financial scams, cyberbullying, and sexual crimes.

Malaysia is introducing a new regulatory measure, mandating social media platforms with a substantial user base to acquire a licence to operate within the country by January 1, 2025. This move aims to curb pressing online issues like financial scams, cyberbullying, and sexual offenses.

Meta Platforms, a major player in the digital space, has voiced concerns over the lack of clarity in the proposed regulations. The tech giant's director of public policy for Southeast Asia, Rafael Frankel, highlighted the accelerated timeline and ambiguous obligations that could hinder digital innovation and growth.

Despite industry backlash, Malaysia is defiant, with Communications Minister Fahmi Fadzil asserting that tech companies must align with local regulations. Ongoing dialogue between Meta and Malaysian authorities aims to reconcile their differences, ensuring a safe online environment without stifling innovation.

(With inputs from agencies.)