Australia Targets Big Tech with $50M Fines for Digital Competition Violations

Australia has proposed a law that could fine global tech companies up to A$50 million if they engage in anti-competitive practices that hinder consumer choice. The law aims to empower the competition regulator to oversee compliance and is part of the government's broader effort to curb Big Tech's influence. The proposed legislation, similar to the EU's Digital Markets Act, seeks to facilitate easier switching between services like social media and app stores. The consultation process will conclude on February 14, with further discussions to draft the legislation.