I haven’t seen the proposed legislation. I'd hope that they would just make laws that prohibit incitement of illegal acts and memes or posts that do this would just be included.
Side note: Fuck Elon Musk. He's not defending free speech, he's defending incitement.
Also, fuck McGregor. He's a violent piece of shit.
What's particularly funny about this bill is that a good half of the European internet lives on Amazon's AWS eu-west-1 cloud center, which is located in Ireland. If the Irish government is serious on passing and then enforcing this law (big if, I reckon) they might be shooting themselves in the foot as social media companies begin to move their data centers to other areas of Europe. Let us not forget that Ireland's economy is almost entirely dependant on being a EU digital harbour for oversas companies.