This seems like a massive "something must be done" can of worms.
How do they define "deepfake"? How realistic does it have to be? Does there have to be pornographic intent? Does it need to involve a computer? A GPU?
If these questions are not precisely addressed, it could criminalize a whole range of stuff including manually illustrated satire. I'm sure the ruling class won't lose sleep over that, but perhaps we should...
Under this law would production of an explicit deepfake be allowed if the party having their face pasted on consents? Would the actor in the source material also need to consent? Do these laws also apply to manual Photoshop jobs (playboy cutouts and Elmer's glue) or does ML need to be involved?
Most of the time it's copyrighted pornography that's used as the base. Interestingly I've heard almost nothing about that part of the equation: the IP infringement angle. I doubt most of the content on Mr. Deepfakes would fall under the DMCA free use exceptions.
In Korea, the issue these days is more or less revenge porn.. However, revenge deep-fake porn.
Wait until they find out about rule34-sites