The federal government proposed new laws this week that could see social media companies fined up to 5 per cent of their annual turnover for spreading misinformation and disinformation.
Elon Musk has hit back at the Australian prime minister and doubled down on describing the government as "fascists" over a planned misinformation and disinformation crackdown. Under the proposed legislation, the communications watchdog's powers to monitor and regulate content on digital platforms would be bolstered. Social media companies could be fined up to 5 per cent of their annual turnover if they breach the laws.
The proposed laws would allow the media regulator to approve an enforceable industry code of conduct or introduce standards for social media companies if self-regulation was deemed to fail. Most Australians want more action to stop the spread of harmful misinformation online, surveying by three universities shows. Opposition communications spokesperson David Coleman has also criticised the bill, but steered clear of the "fascists" label.
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