EU official warns new owner of platform to abide by local rules, or face heavy fine

Twitter's new owner must abide by online content rules being developed by the European Union, the bloc has warned.

Brussels made the observation after Elon Musk's deal to acquire the social media network for $44 billion solidified, and as the world's richest man said he wants to remove limits on what people can say on the site.

The United Kingdom, which is also developing rules for online content aimed at protecting netizens from hate speech, offered a similar warning, with a government spokesman telling The Guardian newspaper Twitter's 217 million users will continue to be protected.

"Twitter and all social media platforms must protect their users from harm on their sites," the spokesman said. "We are introducing new online safety laws to safeguard children, prevent abusive behavior, and protect free speech."

The UK will compel all technology companies that have UK users to comply with its laws or face large fines, and even the prospect of being blocked.

The BBC quoted a spokesman for Prime Minister Boris Johnson as saying: "Regardless of ownership, all social media platforms must be responsible."

The EU's commissioner for the internal market, Thierry Breton, tweeted that the bloc's newly-agreed Digital Services Act, which comes into force in 2024, will ensure "free speech" is not distorted into hate speech.

"Any company operating in Europe needs to comply with our rules－regardless of their shareholding," Breton tweeted. "Mr Musk knows this well. He is familiar with European rules on automotive, and will quickly adapt to the Digital Services Act."

Breton explained to the Financial Times newspaper: "We are open but on our conditions. At least we know what to tell him: 'Elon, there are rules. You are welcome but these are our rules. It's not your rules which will apply here.'"

Companies that breach the EU's Digital Services Act, or DSA, can be fined up to 6 percent of their global turnover.

The DSA requires platforms to bloc content that promotes terrorism, commercial scams, or that is racist or sexist.

Musk responded to the warnings by tweeting: "The extreme antibody reaction from those who fear free speech says it all."

He later seemed to soften his tone by tweeting: "By 'free speech', I simply mean that which matches the law. I am against censorship that goes far beyond the law."

Twitter's co-founder, Jack Dorsey, backed Musk as "the singular solution I trust" in taking the company forward.

Ironically, Twitter's acceptance on Monday of Musk's offer to buy the company led to a difficult Tuesday for Musk's automaker, Tesla, with $126 billion wiped off its value. Experts said investors seemed to be jittery about Musk possibly needing to sell Tesla shares in order to buy Twitter.