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

Elon Musk's social media platform X is set to be spared from 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. The European Commission is nearing the end of its investigation into the platform and is ready to conclude that it does not fall under the jurisdiction of the EU's Digital Markets Directive (DMA), according to people familiar with the matter. X will avoid many of the DMA's regulations because its service is not yet strong enough for commercial users and does not meet certain revenue thresholds. They added that the European Commission may publish its findings 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, and fines for violations can be as high as 10% of a company's global revenue, and up to 20% for repeated violations. (Jinshi)