The Data Protection Commission, the European Union's privacy regulator, announced on Wednesday that it was fining Meta 210 million euros ($253 million) for its data collection practices on Facebook and 190 million pounds ($229 million) for similar practices at Instagram.FTX FOUNDER BANKMAN-FRIED PLEADS NOT GUILTYThe complaint behind the fines arose after the EU passed its General Data Protection Regulation, a law that enabled additional privacy and security protections for European residents, in 2018.Meta responded to the announcement by stating that it "strongly disagrees" with the conclusion and intends to "appeal the substance of the decision" due to a lack of "regulatory clarity."CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINERMeta has been the target of the DPC for regulations for more than a year.This includes fines addressing Instagram's handling of children's data as well as its inability to stop hackers from stealing user data."