It is about control and money. Right now the US profits handsomely from social media companies as they own most the top dogs. Anything which undermines that monopoly is unacceptable to the oligarchs as it is low cost high return on said corporations.
Neither side at the moment is serious about freedom of speech which isn't a good thing. The right wants the left censored. Vice versa for the left.
I get very concerned when the government steps in on freedom of speech as it is never used as intended. For example we have the right to freedom of thought, opinion, and expression. That means yes you can be a fascist, communist, monarchist, pro-democracy, pro-authoritarianism, pro-religious theocracy, etc. It is your right. You also have the right to express it.
The only time that should be illegal is if your directly calling for the death of someone else.
What should be promoted in society is tolerance, not acceptance. Tolerance simply means you have to tolerate people you don't like, not that you need to agree with them or think they should exist in the first place.
You mean the Yugoslavian method? Try to keep the lid on the pressure cooker without allowing any pressure to vent out?