Because it might help limit easy, mass distribution of child molestation, rape, etc. videos.
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I dunno, seems like the vast, vast majority of "for the children" initiatives rarely end up accomplishing what they say they will, and mostly just end up limiting the freedom of people totally blameless in such things.
this will do nothing to stop that, what it will do is further empower banks, fintech and chokepoint monopolies to curtail what speech and whose business is allowed on the internet in a manner that just so happens to to completely appeal to the whims of anti-queer, anti-sex, anti sexworker moralists in the halls of power.
i have never met an extremely online anti-pedo person who wasn't the most specious kind of kony2012 virtue signaller.