According to Mars Finance, Elon Musk's social media platform X is likely to avoid the impact of a landmark European Union law designed to curb tech giants. This comes after regulators determined the platform's influence on the EU market is not significant enough. Sources revealed that the European Commission's investigation into the platform is nearing its end and they are prepared to conclude that X does not fall under the scope of the EU's Digital Markets Act (DMA).

X will bypass numerous regulations outlined in the DMA because its services are not sufficiently robust for commercial users and haven't met certain revenue thresholds. The European Commission is expected to publish the results of its investigation in October, according to these sources.

The DMA outlines a series of requirements for companies like Google Search, Apple's Safari, Amazon, and Meta. The aim is to prevent tech giants from violating competition laws. Fines for violations could reach up to 10% of a company's global revenue, with repeat offenders facing a maximum fine of 20%. (Gold Ten)