Snap has decided to stop featuring President Donald Trump's account on its Discover platform, where users can watch curated videos.

The Santa Monica-based company issued a statement Wednesday:

"We are not currently promoting the President's content on Snapchat's Discover platform. We will not amplify voices who incite racial violence and injustice by giving them free promotion on Discover. Racial violence and injustice have no place in our society and we stand together with all who seek peace, love, equality, and justice in America."

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An executive order that could enable federal regulators to punish social media companies for how they moderate content on their sites would have far-reaching impacts, especially on smaller companies with an online presence, including TikTok, Snap Inc. and Grindr, that lack the budgets to moderate every single message or post on their apps.

President Donald Trump threatened such a change via executive order after Twitter fact checked tweets that spread misinformation related to voting earlier this week. Rather than edit the tweet or block it, the social media company inserted a line that said "get the facts about mail-in ballots."

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