We've had these requirements in Germany for years. The effects were:
A couple of bigger foreign sites who didn't give a shit like xhamster and pornhub got purged from Google in Germany (the German government tells Google and Bing which sites to censor).
German companies closed up shop or moved to other EU countries. Last I've read a remaining company kept getting harassed by the government because nothing they did was ever good enough.
Steam preemptively banned all games with nudity in Germany.
Nobody even talks about porn on social media. Maybe politicians don't know or they need social media sites as allies to fight wrongthink and don't want to push them too hard.
I doubt it. Can't read OP's article because archive is wonky ATM.
This one says "could" and "draft" bill.
We've had these requirements in Germany for years. The effects were: