The Australian government has warned Meta to curb the spread of misinformation online or face a penalty of 5% of their global revenue for failure to comply.
According to media reports, this decision aims to put pressure on social media companies worldwide.
The government stated that it will compel tech platforms to establish codes of conduct that prevent their platforms from spreading harmful false information.
The government emphasized that approval from the regulator is required. If a platform fails to comply, the regulator will take action and impose fines on the companies for non-compliance.