Australia

For the purposes of this Schedule, dissemination of content using a digital service is misinformation on the digital service if:

(a) the content contains information that is false, misleading or deceptive; and

(b)the content is not excluded content for misinformation purposes; and

(c) the content is provided on the digital service to one or more end-users in Australia; and

(d) the provision of the content on the digital service is reasonably likely to cause or contribute to serious harm.

Draft bill located here

I think the last one is key.

Also the bill doesn't empower the government to make individual rulings on misinformation. It says sites have to follow an industry code of practice to have systems in place to keep on top of misinformation.

Think of it as a way to avoid another Cronulla, or any of the pizza gate/Qanon shit happening here. i.e when news is breaking, sure let it through in the fog of war. But don't let people post for years that the election was stolen by the deep state kiddy fiddler alliance.

According to the draft bill, misinformation is defined as unintentionally false, misleading or deceptive content.
It also defines disinformation as misinformation intentionally disseminated to cause serious harm.

Even in it's draft state, the bill is diferentiating between the spurious and actively harmful stuff like "if you inject bleach you can cure covid. I'm a doctor, trust me bro."