Here are the choices folks. Either no regulation except at the actual local enterprise level or we can kiss the internet goodbye in anything even vaguely resembling it's present free state. There is NO WAY to regulate cyberSPACE without granting utterly unacceptable levels of control to bureaucrats.
That's why I say "local enterprise level". If a web concern trafficking in illegal content can be located to the building then shut them down there. Trying to filter and control content in the wild is a hellish technology nightmare on one hand and an eventual guaranteed free speech one on the other.
The internet mirrors exactly the real world HEARTS of men and women. Every form of twisted sickness, perversion and thievery found in real life is also found all over the web because those same people can parade their depravity before the whole earth in the comfort of shadowy anonymity.
Likewise very much that is good and even godly can also be found online just like in the physical world.
Any attempt to stop the bad once it's left the nest of it's server is a disaster on the way that in my view would be worse than doing nothing. At least at present.