Billionaire Elon Musk’s comment referring to the Australian government as ‘fascists’ has faced criticism from lawmakers. According to the statement, if platforms do not comply, they will face penalties and regulatory bodies will impose their own standards on those platforms.

A spokesperson for Australian Communications Minister Michelle Rowland emphasized that companies operating in Australia are required to adhere to the country’s laws.

“This bill will enhance transparency and accountability of platforms towards users and the Australian public,” she stated in an email.

This is seen as part of the Australian government’s effort to regulate global tech giants.

The proposed legislation requires technology platforms to establish codes of conduct to prevent the spread of dangerous misinformation and to seek approval from regulatory bodies.

If platforms fail to comply, they will face penalties, and regulators will impose their own standards on these platforms.

A spokesperson for Australian Communications Minister Michelle Rowland emphasized that companies operating in Australia must adhere to the country’s laws.

“This bill will enhance the transparency and accountability of platforms towards users and the Australian public,” she stated in an email.