EU Launches Formal Investigation into Elon Musk's Platform X for Violating Hate Speech and Fake News Laws

The European Union has launched a formal investigation into Elon Musk's social media platform, X, accusing it of failing to counter illicit content and disinformation, lacking transparency about advertising, and employing "deceptive" design practices. This investigation marks a significant regulatory move under the Digital Services Act, granting the EU authority to enforce stricter content moderation on social media platforms. X's relaxed content moderation policies since Musk's acquisition have led to an increase in incendiary content, causing brands to reduce advertising. If found guilty, X could face fines of up to 6% of its global revenue.