But if Musk refuses to remedy the issues, X could face a fine of up to 6% of the company’s annual worldwide revenue

Phew, just as well the daft cunt tanked the advertising revenue then

This is the best summary I could come up with:

The European Union brought its first charges under a new social media law on Friday, accusing Elon Musk’s X of violating the regulation by deceiving users and not living up to transparency requirements.

European regulators say when Musk relaunched the blue check “verification” system after he purchased Twitter in late 2022, he allowed anyone to pay for the once-coveted badge.

“It negatively affects users’ ability to make free and informed decisions about the authenticity of the accounts and the content they interact with,” the commission wrote in its findings.

In particular a regulation known as the Digital Services Act, or the DSA, which forces large social media companies to aggressively police harmful content, or face financial penalties.

But if Musk refuses to remedy the issues, X could face a fine of up to 6% of the company’s annual worldwide revenue, a figure that can easily reach into the tens of millions of dollars.

Nearly two years ago, a top European Commission official told NPR that serious fines would haunt Musk if he ignored the bloc’s new digital services regulations.

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