Florida Introduces Law to Prohibit Twitter, Facebook from Banning Political Candidates: WSJ - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)

Florida Gov. Ron DeSantis signed a bill on Monday that prohibits the tech platforms with at least 100 million global monthly users from banning Florida political candidates, the Wall Street Journal reports.
The social-media companies have refuted allegations regarding political influence over their ban on content and user restriction.
According to the bill, big social media platforms will not be able to ban or delete the account of a Florida political candidate for over 14 days. It also adds a penalty provision of $250,000 per day for a violation regarding the candidates contesting for state-wide office.
The bill bans editing or removal of journalistic enterprises based on content. Facebook Inc FB and Twitter Inc TWTR had restricted sharing an October New York Post article that hurled allegations about President Biden’s son Hunter Biden.
The bill has sought higher transparency regarding content moderation practices of social-media companies, including user notice period for policy changes. Victims can prosecute and seek monetary damages for unfair content decisions.
Washington tech allies stated that the bill would perpetrate foreign-extremist, violent, hateful speech and pornography across the internet. They also rebuked Florida officials for digital services run by companies that own big theme parks, like The Walt Disney Co DIS.
Facebook, Twitter, and Alphabet Inc GOOG GOOGL YouTube had suspended former President Donald Trump following the U.S. Capitol riot on Jan. 6. Facebook and Twitter have upheld the ban. YouTube was exploring possibilities over the suspension reversal.
Price action: FB shares traded higher by 0.58% at $326.5, and TWTR shares traded higher by 0.51% at $57.35 in the premarket session on the last check Tuesday.

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