PANews reported on April 4 that according to Wall Street, the European Union intends to impose a heavy fine of more than $1 billion on Musk's social platform X because X is suspected of violating the Digital Services Act and failing to effectively regulate false information and illegal content on the platform. The regulator is also advancing a second investigation against X, and may include the revenue of Musk's other private companies in the base of the fine. The final fine may be far beyond expectations. Analysts believe that the EU's recent regulation of technology companies may be one of the reasons why Trump announced this week to impose high tariffs on the EU.
The New York Times quoted four people familiar with the matter as saying that EU regulators are preparing to impose heavy fines on Musk's social platform X because the platform is suspected of violating the Digital Services Act (DSA) on combating illegal content and false information. The penalty is expected to be officially announced this summer and may become the first formal penalty issued by the EU under this law.
