Zuckerberg Faces Hostile Congress as Calls for Regulation Mount - The New York Times

Facebook needs to comply with GDPR starting May 25th and has committed to implementing the Honest Ads Act regardless of whether the bill is approved; it's not waiting for Congress to regulate it

"After two days and more than 10 hours of questioning of Mark Zuckerberg, the Facebook chief executive, there was widespread consensus among lawmakers that social media technology — and its potential for abuse — had far outpaced Washington and that Congress should step in to close the gap.

But the agreement largely ended there. For lawmakers, the calculus is tricky: They do not want to infringe on First Amendment rights or hurt Silicon Valley innovation but are also unsure how to regulate this new breed of company, which wields enormous power by collecting vast amounts of private data from billions of consumers."

Zuckerberg Faces Hostile Congress as Calls for Regulation Mount - The New York Times