Elon Musk's Social Media Platform X Likely to Avoid EU Digital Market Act Regulations

According to Odaily, Elon Musk's social media platform X is expected to avoid the impact of a significant EU law aimed at curbing the power of tech giants. Regulatory authorities have determined that the platform's influence on the EU market is not substantial enough. Sources familiar with the matter revealed that the European Commission's investigation into the platform is nearing completion and is set to conclude that it does not fall under the jurisdiction of the EU Digital Markets Act (DMA). X will bypass many of the DMA's regulations because its services are not robust enough for commercial users and do not meet specific revenue thresholds. The European Commission is likely to announce the investigation results in October. The DMA outlines a series of requirements for companies like Google Search, Apple's Safari, Amazon, and Meta. This move aims to prevent tech giants from violating competition laws, with fines for violations reaching up to 10% of a company's global revenue, and up to 20% for repeated offenses.