So the actual context of this is a long-standing feud between Meta and our elected representatives (and some prominent media figures) regarding social engineering scam ads.
You've probably seen some variant of it - a 1:1 copy of a reputable newsoutlet - in this case The Irish Independent, The Irish Times, RTÉ or Newstalk - with a purported video from our Prime Minister or similar which leads to a crypto-trading or forex-trading sales funnel. Simon Harris, our previous Head of State, was inundated with variants of the same script:
“In the nation’s best interests, we’ve carried out a full investigation to make sure it’s not a scam,” the AI-generated Harris appears to say in the scam ad shown on YouTube.
“This is your chance to change your life. All it takes is one small step: invest €250 and start earning today,” the deepfaked figure tells a press conference.
https://www.thejournal.ie/facetcheck-debunk-ai-scam-ad-deepf...
https://www.newstalk.com/news/social-media-platforms-see-sur...
(Harris was our head of government (ie. PM or equivalent) rather than head of state (which would be the president).)
The existing fraud and advertising laws cover these kind of scams. Because the bottleneck is enforcement, adding new laws won't make the world safer.