The law will make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars (USD 33 million) for systemic failures to prevent children younger than 16 from holding accounts.The Senate passed the bill 34 votes to 19. The House of Representatives on Wednesday overwhelmingly approved the legislation by 102 votes to 13.The House has yet to endorse opposition amendments made in the Senate. But that is a formality since the government has already agreed they will pass. The platforms will have one year to work out how they could implement the ban before penalties are enforced.Meta Platforms, which owns Facebook and Instagram, said the legislation had been "rushed."

Social media ban for U-16 passes Australian Senate

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.