EU Accuses Elon Musk's Company X of Allowing Spread of Disinformation

Money | July 12, 2024, 9:04 a.m.

The European Commission, overseeing major online platforms, including Facebook and YouTube, launched a formal investigation into X, owned by Elon Musk, in December 2023. This marks the first-ever charges under the Digital Services Act (DSA), with potential fines of up to 6 percent of X's global revenue for DSA infringements. The Commission found X's blue checks misled users by falsely indicating content trustworthiness. Originally intended to verify officials and public figures, Musk allowed users to purchase blue check accounts, leading to abuse by fraudsters impersonating celebrities. Additionally, X failed to provide a reliable advertisement repository and restricted public data access. X can defend against charges and propose solutions. The EU is also investigating other online platforms for issues like insufficient consumer protection and addictive algorithms under the DSA.