Australia proposed a law on Monday that could impose fines of up to A$50 million ($33 million) on global technology companies if they suppress competition and prevent consumers from switching between services.

Australia voted to ban social media for kids under 16. But how tech companies should comply with the new law remains a big question.

Australia approved on Thursday a social media ban for children aged under 16 after an emotive debate that has gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech.