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Germany to fine social media firms for failing to remove hateful posts

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The German parliament has voted in favor of a law that would levy fines of up to €50 million ($57 million) on social media companies if they fail to remove hateful posts in a timely manner, The Telegraph reported. The law, slated to take effect in October, affects websites with more than two million users locally such as Facebook Inc. and YouTube Inc. The law requires internet companies to find and delete posts containing "evidently unlawful" abusive material within 24 hours to avoid being hit with a penalty. 

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