Summary
The European Union fined Elon Musk's social media platform X $140 million for breaking rules about digital transparency. The penalty is the first action under the Digital Services Act, aiming to regulate how social media companies operate. X was fined for issues with its verification system, advertising transparency, and restricting researcher access.
Key Facts
- The EU fined X 120 million euros ($140 million) under the Digital Services Act.
- The fine is for violating rules on account verification, advertising transparency, and data access for researchers.
- X's paid blue checkmark system, seen as misleading, incurred a 45 million euro ($52.4 million) fine.
- X was fined 35 million euros ($40.7 million) for not keeping transparent ad records.
- The company received a 40 million euro ($46.6 million) penalty for blocking researcher access to public data.
- This action may strain trade talks between the EU and the U.S.
- X has 60 to 90 days to address these issues or face more penalties.
- The Digital Services Act allows for fines up to 6% of a company's global revenue, potentially larger than the one issued.
