Australian Government Draft Bill Threatens Tech Giants with Fines for Misinformation on Platforms

06/26 01:50

June 26 (Huobi) - The Australian government has introduced a draft bill that would require tech and social media companies to remove misinformation from their platforms or face hefty fines. The bill would give the Australian Communications and Media Authority (ACMA) the power to compel digital platforms like Google and Facebook to maintain records of misinformation and disinformation on their platforms, which they would have to hand over upon request. The ACMA would also be able to enforce an industry-wide "code of practice" to combat misinformation and create its own industry standard. Violations of this standard could result in fines of up to $4.6 million or 5% of global turnover. However, some are concerned about the potential impact on freedom of speech, as the bill's definition of misinformation remains open to interpretation. The public consultation for the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2023 ends on August 6th.

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