, who purchased Twitter for $44 billion last October and made a full rebranding of it into X, is considering cutting off the platform's European audience from its user base.In a similar way, Mark Zuckerberg and Meta have blocked access to their new product, Threads , in the same region and for the same reason — being unable to comply with the local regulation, the Digital Services Act .
According to sources familiar with the matter, upon purchasing the app in October last year, Musk suggested limiting the use of the platform to the U.S. only in order to cut costs for X. This would have drastically limited access to the popular social media platform. X app is important for the crypto community since every single day hundreds of thousands of tweets are published dedicated to Bitcoin, Ethereum, XRP, Dogecoin and other big and small-ranked digital currencies. Posts published on X platform can often play a major role in impacting the prices of crypto as news spreads very fast on X.
Besides, some crypto exchanges were based in Europe initially, such as Bitstamp, having local licenses, and now Coinbase seeks to set up an office in Europe since it is facing trouble from U.S. regulators amid a lack of clear regulations.Coinbase has chosen Ireland as Europe's crypto regulatory hub. It has had an office there since 2018 with around a hundred people working there permanently. Now, the leading U.S.
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