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Meta Platforms has received a formal Statement of Objections from the European Commission regarding its recently launched subscription models, "Instagram Plus" and "Facebook Plus." Regulators contend that the company's "pay--or--consent" framework may violate the Digital Markets Act (DMA) by not offering a sufficiently equivalent, privacy--centric alternative for users who opt out of tracking. This development introduces significant regulatory uncertainty for Meta's revenue diversification strategy in the European Union, potentially impacting long--term margin projections.