According to sources familiar with the situation, the European Commission is getting ready to classify Elon Musk’s Twitter as a “very big online platform,” which will subject it to the most stringent content regulations under the new Digital Services Act, as reported by Market Watch.
If Twitter doesn’t abide by the new content moderation guidelines, it may have to pay up to 6% of its revenue or face being banned in Europe. Some executives in the executive branch of the European Union had previously expressed concern that Twitter might not reach the 45 million user threshold for the “very large online platform” label, allowing Musk to dodge the region’s rigorous content laws.
By February 17 and by September 1 of this year, social media platforms must disclose their EU user numbers and comply with the new digital law.
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Source: Market Watch