"moderation" = "censorship"

Never in history have the one's calling for censorship turned out to be "the good guys."

If someone is saying or sending something illegal there are laws against that. "Hate speech" is legal in the US (as it should be IMO). As is "misinformation" - also as it should be. "Hate speech" and "misinformation" are completely subjective terms. Therefore the terms are used to censor.

Will, how about if every letter and package that comes to your house is opened just to check if you have "child porn." Maybe we should "moderate" your phone calls and discussions with your friends, just to be sure.

What major countries like France, Brazil, the UK, and first and foremost the US want is for major social media companies to provide info on their users and to block content that those governments don't like. Can you say, "Stasi" Will?

This is an attempt to go around free speech laws by coercing major tech companies to work as a private Stasis. It would be no different than if the governments said that cell phone companies have to listen in on your calls to make sure you're not spreading misinformation. TBH, who is calling whom is already being requested, and phone call content is slowly being moved towards.

Be careful what you wish for, Mr. Fortune-Teller. We'll soon be living in a 21st East Germany police state because fools like you keep saying "moderation is important for free speech." Facepalm.