Elon Musk's social media platform X may be exempt from EU digital market law

Odaily Odaily News Elon Musk's social media platform X is set to be spared from the impact of a landmark EU law aimed at curbing tech giants after regulators determined that the platform's impact on the EU market is not large enough. According to people familiar with the matter, the European Commission's investigation into the platform is nearing its end and is ready to conclude that it does not fall under the jurisdiction of the EU's Digital Markets Act (DMA). X will avoid many of the DMA's regulations because its services are not strong enough for commercial users and do not meet specific revenue thresholds. They added that the European Commission may announce the results of the investigation in October. The DMA lists a series of requirements for companies such as Google Search, Apple's Safari, Amazon and Meta. The move is aimed at preventing tech giants from violating competition laws, with fines for violations of up to 10% of the company's global revenue, and up to 20% for repeated violations. (Jinshi)