Elon Musk's X faces potential $1 billion fine from EU regulators: Report

European Union regulators are weighing whether to level a $1 billion fine against Elon Musk's

social media platform X. Four sources familiar with the matter tell the New York Times it's for

violating a new EU law banning social media companies from allowing illicit material and

disinformation on their platforms. EU officials accuse X of failing to monitor user-generated

material and in the process creating a safe haven for illegal hate speech, false information

and other illicit content threatening democratic values within EU nations. The penalties, which include the fine, would also reportedly require acts to make changes to the platform

and are expected to be announced this summer. This would mark the first time the landmark law, known as the Digital Service Act

is used to hold a social media company responsible for content regulation

According to the New York Times, European authorities are still considering how large the fine should be

and the potential risks of further damaging Europe relationship with the United States and President Donald Trump by targeting one of his closest allies amid trade disputes and the war in Ukraine

EU officials, however, insist their investigation into X comes independently from any tariff

negotiations after President Trump announced new tariffs on European goods this week

The probe began in 2023 and authorities announced last year preliminary findings that X broke the law

The EU and X could still reportedly breach a deal if Musk's company agrees to modify its product to comply with EU law

It's currently unclear what kind of modifications would be required. This is not Musk's first legal battle in Europe

As Straight Arrow News previously reported, French prosecutors investigated X in February

after a lawmaker accused the platform of biased algorithms to shape discourse on the site

Axe has yet to respond to the latest report, but Musk has criticized EU policies and regulations

arguing they are censoring free speech. For more unbiased updates, download the Straight Arrow News app or go to san.com