X Has Cut Off the European Commission's Ad Account After Being Fined $140 Million
In a stunning move, Elon Musk's platform X has revoked its ad account on Twitter after being fined €120 million by the European Union for violating the Digital Services Act. This decision comes in response to what X sees as an "exploit" used by the EU to boost the reach of the announcement about the fine.
According to Nikita Bier, head of product at X, the Commission had not used its ad account since 2021 but posted a video with explicit links that were meant for ads. This action was seen as deceptive by X and led to the revocation of the ad account.
However, analysts argue that this move may not change much for either side. The EU is still on track to collect the fine, which could amount to around $140 million. Moreover, X will need to provide details on how it plans to address its misuse of verified checkmarks within 60 days or face additional penalties.
The decision by X also highlights the ongoing tensions between social media companies and regulatory bodies. As the EU continues to crack down on companies that fail to comply with its digital regulations, platforms like X are being forced to navigate this complex landscape and weigh their options carefully.
For now, it remains to be seen how this development will play out and what impact it may have on the ongoing regulatory battles between social media giants and the European Commission.
In a stunning move, Elon Musk's platform X has revoked its ad account on Twitter after being fined €120 million by the European Union for violating the Digital Services Act. This decision comes in response to what X sees as an "exploit" used by the EU to boost the reach of the announcement about the fine.
According to Nikita Bier, head of product at X, the Commission had not used its ad account since 2021 but posted a video with explicit links that were meant for ads. This action was seen as deceptive by X and led to the revocation of the ad account.
However, analysts argue that this move may not change much for either side. The EU is still on track to collect the fine, which could amount to around $140 million. Moreover, X will need to provide details on how it plans to address its misuse of verified checkmarks within 60 days or face additional penalties.
The decision by X also highlights the ongoing tensions between social media companies and regulatory bodies. As the EU continues to crack down on companies that fail to comply with its digital regulations, platforms like X are being forced to navigate this complex landscape and weigh their options carefully.
For now, it remains to be seen how this development will play out and what impact it may have on the ongoing regulatory battles between social media giants and the European Commission.
just think about it, EU is trying to regulate X's ad spend & they're doing it through fining them €120 million? 
meanwhile, X just revokes their own ad account because they saw an "exploit" 
i mean, isn't that kinda like the fox guarding the henhouse? 
anyway, i'm no expert but i think this whole thing is a big mess & both sides are gonna have to negotiate or something... 
Elon Musk and his platform X think they can just pay up or threaten to leave when it's convenient for them and then act all innocent 
like "we didn't do anything wrong" 
the EU is like "nope, you're getting fined and your ad account is revoked" 
it's gonna be interesting to see how X plays this one out in 60 days 
they should better have a solid plan or face the consequences 
like, isn't that kinda what happens when you get fined for violating some rule? 
I'm not sure if it's a big deal or not, but it does sound like X is trying to make a point about how they didn't do anything wrong 
And yeah, the 60-day deadline for addressing verified checkmark misuse is gonna be interesting to watch 
. honestly tho, eu shoulda seen it comin' - x has been actin shady for years 
We were driving through the countryside and we saw a sign that said "World's Largest Ball of Twine" 
. Still, I get why X is upset - all those verified checkmarks can be a nice little perk, and not having access to EU's massive userbase could hurt their business big time 
.
. I mean, who wouldn't want a multi-billion dollar fine 
just heard that X cut off the EU's ad account 
.
!
. I mean, can't they just chill? Social media platforms are already super complicated and regulated enough as it is 
. We'll see how this all plays out, but for now, it just seems like a weird PR move 
. Meanwhile, X has to figure out how to clean up their act 
. Big implications for social media companies 
and regulatory bodies 
. Tensions are high 
, let's see what happens next 
. I feel like the EU is just tryin' to make an example outta them. But at the same time, you gotta give X some credit - they're standin' up for themselves and sayin' no way to be taken advantage of 
. It's all about who gets to call the shots in this regulatory game 
.
. it's like, you wanna be part of the game, gotta follow the rules 
️
. But on the other hand, doesn't X have its own responsibility to regulate its platform? It's like, how can you say you're doing something right when you're not checking your own house first 
?
. Time to get real about regulating the digital world, if you ask me