The internet is young and the law requires updates in order to give the prosecuting power the tools to do something about criminal activities online.
If I understand it correctly all it says is that you can't link to adult sites saying it is something else. Seems to me that that has nothing to do with free speech.
These things never are a waste of taxpayer funding. Without laws we would still be living in the stone age. But of course, there are quite a lot of flintstones out there.. :)
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