Because it de facto requires everyone using the internet to provide their identity, which is something that gives authoritarian types a huge boner. Once there is no such thing as anonymous discourse, it becomes trivial to target/arrest/harass/brutalize dissenters or indeed anyone the current regime simply doesn't like.

It’s part of the data center push, Palantir, all of it. Centralized info storage so if anyone starts to push back anywhere they know exactly who and where. That and ads. The internet is too anonymous.

It’s the same set of billionaires. A little line between countries doesn’t mean much to them.

Because the wealthy and the elite think we are on the cusp of a world with a massive labor surplus, no jobs, and nothing to follow it. There will be massive unrest, and so they want to lockdown the internet before that happens, so it will be easier to direct the angry horde at each other rather than at the top where all the issues are actually stemming from.

Because Meta and probably Bloomberg too, bribed them.

Social networks see the writing on the wall and want to create regulatory capture. If they provide the identify verification it is another hook into us.

Surveillance

I suspect it's just their way of inching towards requiring everyone to provide ID to access the internet, they pretty much always wrap this stuff up in some sort of "protect the children" hysteria, so they can accuse anyone who protests it of being a pedophile.

Also Meta is lobbying for it so they can get off the hook for having to moderate their own stuff by shunting the responsibility onto someone else.