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  • Voltaire Staff

Elon's X stares at major fine as EU cracks down on Big Tech

In the coming weeks, Elon Musk's social media platform X may be served with a formal warning by the European Union for allegedly failing to combat harmful content.

With it, the firm may be slapped with a fine of 6 per cent of its revenue, which is likely to be announced by the Internal Market Commissioner, Thierry Breton, before the EU's summer recess, reported Bloomberg.

A formal decision in the matter will be made by the authorities before the end of 2024.

The warning has been followed by the opening of an investigation by the European Union's regulator last December.

They have also started investigations into Meta platforms, Byte Dance TikTok, and AliExpress.

The EU said that its investigation against Elon's X is ongoing and there is no deadline or next steps.

The EU's Digital Services Act (DSA) and Digital Markets Act (DMA) are newly formed acts, focusing on the most powerful platforms.

In August this year, DSA -- which lays out content rules for social media platforms, app stores, and online marketplaces -- became legally enforceable.

The Act demands the tech firms prevent misinformation, objectionable content like terrorist propaganda, hate speech, and ads for unsafe toys. It also seeks to prevent the formation of so-called rabbit holes which pull young users into inappropriate content.

The DMA, that became enforceable in March, threw a long list of dos and don'ts based on antitrust enforcement in the digital economy. 

The law aims to stop abusive conduct before it occurs and allow digital giants to dominate markets. Under DMA, the EU has issued formal warnings to Apple and Meta over allegations of unfair practices.


Image Source: Unsplash 



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