Musk's X May Not Be Subject to EU Digital Markets Act
Publication Time:2024-09-14 00:56:09
The social media platform X, which is under the ownership of Musk and commonly referred to as X, appears to be exempt from a landmark law in the EU aimed at limiting the influence of tech giants. This decision stems from the regulatory body's assessment that the platform's impact on the EU market does not significantly affect its dynamics. Information sources reveal that the ongoing investigation by the European Commission is nearing completion and is poised to conclude that X falls outside the jurisdiction of the EU's Digital Markets Act (DMA). Consequently, X will not be bound by many of the DMA's provisions, particularly since the services it offers to business users are deemed insufficiently powerful and do not meet specific revenue thresholds. The European Commission is expected to announce the findings of this investigation in October. The Digital Markets Act targets large tech companies such as Google Search, Apple's Safari browser, Amazon, and Meta (formerly Facebook), with the aim of preventing them from violating competition laws through a series of regulations. Violations could result in fines up to 10% of a company's global revenue, while consecutive violations may lead to fines up to 20%.
X Platform
Musk
EU Digital Markets Act
Market Influence
Regulatory Exemption