European Union regulators are about to serve Elon Musk-owned X with a formal warning for failing to combat dangerous content.
Internal Market Commissioner Thierry Breton is likely to announce fines of 6 percent of X’s revenue before the EU’s summer recess due to the escalations, CNBC-TV18 reported.
The authority will give a formal decision on the matter by the end of the year if X fails to make the required changes to address the EU’s preliminary findings. Post this, X might be facing a financial penalty for non-compliance.
The EU’s warning shot at X comes after an investigation that was opened by regulators in December last year. Inquiries were made by Brussels watchdogs over the handling of content after the Hamas attacks on Israel on Oct 7. Investigations have also been opened into Meta Platforms Inc., AliExpress, and ByteDance Ltd.’s TikTok, reported CNBC-TV18.
It was also reported that the proceedings against X are ongoing and there are no time limits on the next step.
The EU’s DSA and the Digital Markets Act, or DMA, are two new laws that put the spotlight on the big online platforms.