Facebook has announced that it will ban users in Australia from sharing news content, a move that comes in response to media regulation laws proposed by the Australian government.

“Assuming this draft code becomes law, we will reluctantly stop allowing publishers and people in Australia from sharing local and international news on Facebook and Instagram,” said Will Easton, managing director of Facebook Australia and New Zealand, in a statement .

The Australian Competition and Consumer Commission (ACCC), a government agency that regulates business practices, proposed a draft of new …