Meta Shuts Down 550,000 Accounts in Australia Over Kids Social Media Ban

• Meta Platforms Inc. closed nearly 550,000 accounts in Australia to comply with the country's social media ban for children.
• The shutdown includes approximately 330,000 Instagram, 173,000 Facebook, and 40,000 Threads accounts belonging to users under 16.
• Australia's law, effective December 10, mandates platforms like TikTok and Instagram to keep under-16s off, with fines up to A$49.5 million ($33 million).
• Australia is the first democracy to implement such a ban due to concerns about social media harms to children.
• Meta opposes the ban, advocating for industry-wide age verification to prevent teens from migrating to alternative apps.

Why It Matters: Meta shut 550,000 accounts in Australia to comply with a new law banning social media for under-16s.