07:28 AM EST, 01/02/2025 (MT Newswires) -- Alphabet's (GOOG) (GOOGL) Google ( GOOG ) unit, which operates YouTube ( GOOG ), and Elon Musk's X have yet to apply for a social media operating license under Malaysia's new law, which went into effect on Wednesday, Bloomberg reported late Wednesday, citing the Malaysian internet regulator.

X has claimed that its user base in Malaysia does not meet the eight million threshold required for the license, which the Malaysian Communications and Multimedia Commission is currently verifying, the report said.

Google ( GOOG ) has expressed concerns about how YouTube ( GOOG ) will be classified under the new licensing framework, whereas Tencent's WeChat and ByteDance's TikTok were the first to obtain licenses under the new rules, with Telegram also applying, Bloomberg quoted the regulator as saying.

Meta Platforms (META), which owns Facebook, Instagram, and WhatsApp, has also begun the application process, the report said.

Platforms that fail to comply with the licensing requirements may face investigations or regulatory oversight, the report said, citing the regulator.

Google ( GOOG ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)