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Proposed Australia law would fine Big Tech over digital competition

Economic Times · 3m

Australia is proposing a new law that could penalize global technology companies up to $33 million if they stifle competition and hinder consumer mobility between services. The Labor government aims to curb Big Tech's influence, having recently banned social media for children under 16. The law, similar to the EU's Digital Markets Act, would empower Australia's competition regulator to monitor compliance and investigate anti-competitive practices online. The proposed legislation targets dominant platforms such as Apple, Google, and Meta (formerly Facebook) and could facilitate easier switching between competing services like social media platforms, browsers, and app stores.