Twitter will be exempt from the EU Digital Markets Act.
On September 14, Elon Musk's social media platform Twitter will be spared from the impact of a landmark EU law aimed at curbing tech giants, after regulators determined that the platform's impact on the EU market is not significant enough.
Sources familiar with the matter have revealed that the European Commission's investigation into the platform is nearing its end, and they are poised to conclude that Twitter does not fall under the purview of the EU's Digital Markets Act (DMA).
Twitter will avoid many of the DMA's regulations because its services are not sufficiently robust for commercial users and haven't reached a specific revenue threshold. They added that the European Commission is likely to announce the findings of the investigation in October. The DMA outlines a series of requirements for companies like Google Search, Apple's Safari, Amazon, and Meta. This move aims to prevent tech giants from violating competition law, with penalties for violations reaching up to 10% of a company's global revenue and potentially reaching 20% for repeated offenses.