Australia Drops Plan to Fine Social Media Giants for Misinformation
SYDNEY, Nov 24 – Australia’s government announced on Sunday that it had abandoned plans to impose fines of up to 5% of global revenue on internet platforms for failing to prevent the spread of misinformation.
The proposed bill was part of a broader regulatory effort aimed at curbing the influence of foreign-based tech companies, which have been criticized for undermining Australia’s sovereignty. The move comes as the country prepares for a federal election in the coming year.
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