DEVELOPING: EU Slaps Elon Musk's X with $140M Fine Over Alleged Business Misconduct

EU Slaps Elon Musk's X with $140M Fine Over Alleged Business Misconduct The European Union has imposed a $140 million fine on Elon Musk's X, the social media platform formerly known as Twitter, for violating digital platform rules. The fine was announced on December 5, 2023. The EU has taken action against X for its misleading use of a blue check mark to identify verified users, a poorly functioning advertising repository, and failure to provide effective data access for researchers. This move marks a significant development in the EU's efforts to regulate large digital platforms. The European Commission had previously preferred to work with X to address these issues, but the platform's failure to comply led to the imposition of fines. In contrast, Chinese-owned platform TikTok has offered concessions to avoid similar penalties. The fine is a major blow to X, which has faced criticism over its business practices. The company will likely face further scrutiny and potential consequences as a result of this decision. This is a developing story, and we will provide updates as more information becomes available.