The European Union is set to issue a formal warning to X, Elon Musk's social media platform (formerly known as Twitter), for failing to tackle dangerous content.
This marks the third significant action by EU regulators against major tech firms in recent weeks.
According to a Bloomberg report, Internal Market Commissioner Thierry Breton is expected to announce the warning, which may lead to fines of up to 6% of X's revenue, before the EU's summer recess.
If X does not address the European Commission's preliminary findings, the authority could finalize a decision before year-end, potentially resulting in financial penalties for non-compliance.
This action follows an EU investigation into X's content management after the October 7 Hamas attacks on Israel.
The EU has also initiated inquiries into Meta Platforms Inc. META, AliExpress, and ByteDance Ltd.'s TikTok handling their content.
Brussels has also accused Apple Inc AAPL of violating European Union regulations, facing a penalty of up to 10% of its global annual revenue.
The proceedings against X remain ongoing, and there is no set timeline for the next steps.
The EU's Digital Services Act (DSA) and Digital Markets Act (DMA) are being rigorously enforced. The DSA, effective since last August, mandates social media platforms to curb misinformation, hate speech, terrorist propaganda, and harmful ads.
The DMA, in effect since March 7, aims to prevent abusive practices by large tech companies, ensuring fair competition.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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