SAN FRANCISCO, Sept 1 — Facebook Inc yesterday said it would stop allowing news publishers and people in Australia from sharing local and international news on Facebook and Instagram if a proposed regulation on news content sharing being drafted by the Australian government becomes law.

"This is not our first choice — it is our last. But it is the only way to protect against an outcome that defies logic and will hurt, not help, the long-term vibrancy of Australia's news and media sector,” Facebook said in a statement.

Australian government said in July it would require tech giants like Facebook and Alphabet Inc's Google to pay for news content provided by media companies under a royalty-style system that will become law this year. — Reuters