Market Chatter: Reddit Challenges Australia's Under-16 Social Media Ban in Court

MT Newswires Live12-12 18:18

Reddit (RDDT) has launched a legal challenge against Australia's ban on social media access for users aged below 16 years, Reuters reported Friday, citing an Australia High Court filing and a company statement.

The message board website is asking the court to remove it from the scope of the law, arguing the rules conflict with protections for political expression, the news agency reported.

The law "carries some serious privacy and political expression issues for everyone on the internet," Reddit reportedly said in a statement. "So, we are filing an application to have the law reviewed."

The Australian government has said that if any social media platform fails to enforce the law, it will be fined up to $33 million, while other platforms, including Meta (META), Alphabet's (GOOG, GOOGL) YouTube, and TikTok, have said they will comply, Reuters reported.

Reddit didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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