The Commission states that the payment system for the blue checkmark, which suggests to users that profiles are verified, is misleading and contributes to the spread of fake news. As a result, X could face fines of up to 6% of their global revenue.
The investigation into X began in December 2023, focusing on how the platform deals with disinformation and fake accounts. Users can pay to receive a blue checkmark, which previously guaranteed verified accounts. This causes confusion because people still believe these profiles are trustworthy.
X risks heavy fines, but is first given the opportunity to address the EU's concerns with appropriate measures. Elon Musk, the owner of X, has responded fiercely, claiming that the European Commission is implementing a form of censorship through contracts and rules. According to Musk, other platforms have accepted this deal, but X has not.
Musk threatens to completely withdraw X from the European market. He claims that the Commission proposed silently censoring opinions in exchange for avoiding fines. However, these statements have not been officially confirmed by the EU. He is likely referring to the EU's efforts to combat (Russian) troll armies, fake accounts, and the spread of fake news.
The European Commission is closely monitoring developments and emphasizes that X must act quickly to counteract the spread of illegal and misleading content. While Musk continues his fight against European regulations, it remains unclear how X will respond to the EU's demands.