XM does not provide services to residents of the United States of America.

Australia passes social media ban for children under 16



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>QUOTES-Australia passes social media ban for children under 16</title></head><body>

Adds new Meta comment

SYDNEY, Nov 28 (Reuters) -Australia on Thursday approved a social media ban for children aged under 16 after an emotive debate that gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech.

The law forces tech giants from Instagram and Facebook owner Meta META.O to TikTok to stop minors logging in or face fines of up to A$49.5 million ($32 million). A trial of methods to enforce it will start in January with the ban to take effect in a year.

A number of countries have already vowed to curb social media use by children through legislation, but Australia's policy is the most stringent.

FACEBOOK AND INSTAGRAM-OWNER META META.O SPOKESPERSON:

“Naturally, we respect the laws decided by the Australian Parliament. However, we are concerned about the process which rushed the legislation through while failing to properly consider the evidence, what industry already does to ensure age-appropriate experiences, and the voices of young people.

“The task now turns to ensuring there is productive consultation on all rules associated with the Bill to ensure a technically feasible outcome that does not place an onerous burden on parents and teens and a commitment that rules will be consistently applied across all social apps used by teens.”

SUNITA BOSE, MANAGING DIRECTOR, AUSTRALIAN DIGITAL INDUSTRY GROUP, DIGI

"It's cart before horse... We have the bill but we don't have guidance from the Australian government around what are the right methods that a whole host of services subject to this law will need to employ."

SARAH HANSON-YOUNG, GREENS PARTY SENATOR:

"This is a rubbish Bill, it has no substance and it doesn't even take place for another 12 months. It's also obvious that the people who have drafted and fought for the particular elements of this Bill actually have no idea how young people engage with the internet. This is boomers trying to tell young people how the internet should work."

SARAH HENDERSON, LIBERAL PARTY SENATOR:

"We know there is widespread concern and evidence about the severe mental health impact of social media on children. We've seen very disturbing global trends in youth mental health since the rise of social media, especially for girls."

LEONARDO PUGLISI, 16-YEAR OLD AND CHIEF ANCHOR OF 6 NEWS AUSTRALIA:

"I think this ban will really stifle creativity. Not just in Australia but there have been young people around the world from the ages of 13, 14, 15 who have been able to explore their passions maybe make a career out of it through social media in some form or another."

AUSTRALIAN HUMAN RIGHTS COMMISSION

"Given the potential for these laws to significantly interfere with the rights of children and young people, the Commission has serious reservations about the proposed social media ban."

"There are arguments for and against the introduction of a social media ban for under-16s. While a ban may help to protect children and young people from online harms, it will also limit important human rights."



Reporting by Renju Jose in Sydney; Editing by Alasdair Pal, Alexandra Hudson

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.