Australia dumps plan for fines for social media giants enabling misinformation

Australia’s government said on Sunday it had dropped plans to fine internet platforms up to 5% of their global revenue for failing to prevent the spread of misinformation online. The bill was part of a wide-ranging regulatory crackdown by Australia, where leaders have complained that foreign-domiciled tech platforms are overriding the country’s sovereignty, and comes ahead of a federal election due within a year.