Another way of putting it: Australia's tech scene will soon be located on the Wayback Machine.
The law was introduced as the Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018, but now it's official. And there's a lot to be concerned about, even if you don't live or work in Australia.
The new law gives Australian law enforcement agencies the power to issue cooperation notices to technology entities with the purpose of gaining access to specific users' encrypted messages and data. These entities may include companies, websites, or anything else that transmits data to an end-user in Australia.
They can also contain an individual if the person "develops, supplies or updates software used, for use, or likely to be used, in connection with: (a) a listed carriage service; or (b) an electronic service that has one or more end users in Australia."