X or Twitter Could Be Fined, Elon Musk's Other Companies Could Be Too!

Bittime - X, previously known as Twitter, is currently under serious threat from the European Union regarding potential violations of digital content regulations. 

The platform is likely to be subject to heavy fines by European Union regulators.  Not only that, regulators are also considering calculating potential fines based on income from Musk's other companies.

X or Twitter Could Be Fined

The regulations are the basis for this potential fine is Digital Services Act (DSA), a new European Union law implemented to regulate digital content. The DSA requires large online platforms to tackle illegal content and disinformation.

For companies that do not comply, the European Union can impose fines of up to 6% of their global annual revenue. X, as one of the major platforms, has been under scrutiny by the European Commission for several potential violations of these rules.

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X or Twitter Could Be Fined, New Fines Calculation

One of the new fine calculations being considered by the European Union is to include income from Elon Musk's other companies, such as SpaceX, Neuralink, X.AI, and The Boring Company, into the fine calculation. 

This is because X is a private company wholly owned by Musk. He can also be considered the entity in overall responsibility for these companies, and not just platform X. 

However, Tesla is excluded from calculating this fine due to the company's status as a public company.

X or Twitter Could Be Fined, Account verification Issues

Apart from the problem of content violations, the European Union also criticized the blue tick feature on accounts that are said to be "verified" on the X platform. It is feared that this feature will mislead users because it can be misused. 

Additionally, Platform This adds to the long list of problems that the X platform is currently facing.

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