Musk's Twitter Exempted from EU's Antitrust Law

According to Mars Finance, Twitter, the social media platform owned by Elon Musk, will be exempt from the EU's landmark Digital Markets Act (DMA) aimed at curbing the power of tech giants. The EU Commission has concluded that Twitter's impact on the EU market is not significant enough.

Sources revealed that the EU Commission's investigation into the platform is nearing completion, and the agency is prepared to conclude that it falls outside the scope of the DMA. Twitter will avoid the DMA's numerous regulations because its service is not considered strong enough for business users and it hasn't reached the specific revenue threshold.

The EU Commission is expected to release the findings of the investigation in October, sources added.

The DMA outlines a series of requirements for companies like Google Search, Apple's Safari, Amazon, and Meta. It aims to prevent tech giants from violating competition laws, with fines of up to 10% of global revenue for violations and up to 20% for repeat offenses.