Australia has passed a law banning social media access for children under 16, enforcing strict penalties on Meta Platforms, Inc. (NASDAQ:META), ByteDance-owned TikTok, and Snap Inc. (NYSE:SNAP).

What Happened: The Social Media Minimum Age Bill, approved on Thursday, prohibits minors under 16 from accessing platforms such as X, formerly Twitter, Instagram, Facebook, TikTok, and Snapchat.

Violations could result in fines of up to $32 million (AUD 49.5 million), reported Reuters.

YouTube, a subsidiary of Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, has been exempted from this ban as it is widely used in schools.

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In their statements to the report, spokespersons for Meta and Snap expressed concerns about the legislation.

They also promised to comply with the laws while engaging closely with the government during the 12-month implementation period. 

Snapchat, Google, Met, and TikTok did not immediately respond to Benzinga's request for comments.

The law will undergo a trial implementation phase starting January 2025, with full enforcement expected in 2026.

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Why It Matters: The legislation has sparked a national debate. Some proponents cite the need to combat the negative mental health impacts of social media on young people.

Critics, however, argue it may infringe on young users’ rights, privacy, and access to online support networks.

The ban also follows a series of events that began with Australia’s Prime Minister Anthony Albanese’s feud with tech leaders like Elon Musk and Mark Zuckerberg.

Earlier in June, Musk's X prevailed in a legal dispute with the Australian government over its attempt to have footage of a church stabbing in Sydney removed.

During the same month, Meta also warned that it could restrict news content in Australia if required to pay licensing fees.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.