Australia Proposes $33 Million Fines to Curb Big Tech's Anti-Competitive Practices

The legislation aims to empower regulators to address monopolistic behavior in digital platforms, targeting app stores and ad tech services.

The Australian government has introduced a draft law that would impose fines of up to 50 million Australian dollars ($33 million USD) on tech companies engaging in anti-competitive practices.
The proposed legislation is designed to prevent dominant platforms like Apple, Google, and Meta from restricting consumer choice and stifling innovation in the digital economy.
Australia's competition regulator would be empowered to investigate and enforce compliance, with initial focus on app stores and advertising technology services.
The law is modeled after the European Union's Digital Markets Act, which enforces strict regulations on tech giants to protect consumer rights and promote competition.
This proposal follows recent Australian government actions targeting Big Tech, including a social media ban for users under 16 and efforts to regulate AI and misinformation.