Unfortunately, as with any law that says they're going to give companies a big fine or punish execs personally, they don't even *really* need to enforce it. The very threat of possible enforcement will be enough to make websites self police.
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Execs aren't moral people that will look at a stupid or poorly written law and stand up for their customers.
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Self policing also almost always leans towards being more strict than the related laws. When companies have to choose between "that's kinda on the edge but probably okay" or being ban heavy, they pick the latter.
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